There were two doctors involved and you can use the link below for a little history but long and short of it the other doctor has already made a deal with the government.  It’s interesting to note the comments from the testimony from the doctor stating that Mr. Martoma, who’s on trial, knew more about Alzheimer's research then anyone else outside the industry so he was working it. 

Doctor From New Jersey Identified As The Tip Off in the SAC Insider Trading Investigation-Alzheimer Clinical Trial Information

Others have spoken about the case a bit in the news and testified from SAC, one saying he was afraid of his job an angering Steve Cohen, the owner of SAC.  This part was pretty cut and dry as they had emails of the conversations between the doctor and the broker.  In addition the doctor asked Mr. Martoma to help get him introduced to biotech companies that would be interested in conducting trials at the research center.  The doctor was paid around $1500 an hour for his time as a consultant.  Information about the drug trials were leaked and that is what SAC used to invest upon.  It’s kind of sad as I wrote before the doctor was like top in his research as well.  BD


On Tuesday, a jury seated in the federal courthouse in Lower Manhattan heard the testimony of Dr. Ross, one of two doctors that prosecutors say Mr. Martoma corrupted to engineer what the government has called the most lucrative insider trading scheme in American history.

“He stood apart,” Dr. Ross told the jury of five men and seven women at Mr. Martoma’s criminal trial, adding that he found Mr. Martoma “one of the most well-informed individuals” outside of the Alzheimer’s research community he had ever met.

The jury on Tuesday was shown emails revealing that more than a year after their initial meeting, Dr. Ross and Mr. Martoma arranged to meet in Chicago the same night the final results of Elan’s second phase of clinical trials were revealed to a panel of investigators — a full day before the company announced the unexpectedly disappointing results.

http://dealbook.nytimes.com/2014/01/14/testifying-in-sac-case-doctor-admits-sharing-data/?smid=tw-dealbook&seid=auto

0 comments :

Post a Comment

 
Top