Parsad Posted September 26, 2012 Share Posted September 26, 2012 So far five former hedge fund managers at SAC have been tied to insider trading allegations brought about by the U.S. government. But still of course this isn't a firm with a culture of unethical and illegal conduct! Cheers! http://www.bloomberg.com/news/2012-09-25/sac-capital-fund-manager-said-to-be-uncharged-conspirator.html Link to comment Share on other sites More sharing options...
PlanMaestro Posted November 20, 2012 Share Posted November 20, 2012 And another one: “the most lucrative insider-trading scheme ever,” http://www.bloomberg.com/news/2012-11-20/u-s-charges-mathew-martoma-in-insider-trading-scheme.html Link to comment Share on other sites More sharing options...
dowfin1 Posted November 20, 2012 Share Posted November 20, 2012 On July 17 2008, Mr Martoma allegedly obtained the final disappointing results of the drug trial from Mr Gilman and three days later, according to the complaint allegedly “spoke to the owner” of the hedge fund where he worked and recommended selling Elan and Wyeth before the drug trial results were made public. The next day, according to the complaint, Mr Martoma and the hedge fund owner instructed a trader to sell its entire 10.5m share position in Elan and 7m shares of Wyeth. The hedge fund also placed a bet that the two stocks would drop. http://www.ft.com/intl/cms/s/0/8b17542a-3327-11e2-8e44-00144feabdc0.html#axzz2CjzrZcem Link to comment Share on other sites More sharing options...
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