Friday, February 28, 2014

Ex-SAC trader Martoma seeks to toss insider trading conviction

Former SAC Capital Advisors portfolio manager Martoma walks out of the courthouse in downtown Manhattan, New York By Jonathan Stempel NEW YORK (Reuters) - Former SAC Capital Advisors LP portfolio manager Mathew Martoma asked a U.S. judge to throw out his insider trading conviction, saying federal prosecutors did not prove he committed a crime and that improper evidence and jury bias tainted the verdict. The request submitted late Thursday night in the U.S. District Court in Manhattan was expected. It followed Martoma's February 6 conviction on two counts of securities fraud and one count of conspiracy. "This court should enter a judgment of acquittal on all counts," Martoma, 39, told U.S. District Judge Paul Gardephe, who presided over the roughly month-long trial, in the filing.








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