CALIFORNIA
Essential California reading: Immigration losers, UC tuition sticker shock, L.A.'s bad Thanksgiving traffic and more

Topics

Wyeth
SAC Capital ex-trader convicted of insider trading
SAC Capital ex-trader convicted of insider trading

NEW YORK — A former SAC Capital Advisors portfolio manager was convicted Thursday of helping his company earn more than a quarter billion dollars illegally through trades based on secrets about the testing of a potential breakthrough Alzheimer's drug. The verdict capped a three-week trial that featured testimony from two prominent doctors who confessed spilling secrets to Mathew Martoma during lucrative consultations with financiers. Martoma sat expressionless as the jury forewoman announced he had been found guilty of two counts of securities fraud and conspiracy to commit securities fraud. Tears streamed down the face of his wife, who sat with her hands folded on her...

Loading