Sun. Jun 16th, 2019

Supreme Court rejects insider trading appeal brought by SAC’s Martoma

2 min read
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FILE PHOTO: Former SAC Capital Advisors portfolio manager Mathew Martoma exits the U.S. District Court for the Southern District of New York, following sentencing for insider trading, in Lower Manhattan September 8, 2014. REUTERS/Brendan McDermid

WASHINGTON (Reuters) – The U.S. Supreme Court on Monday rejected an appeal by Mathew Martoma, a former portfolio manager for billionaire Steven A. Cohen, challenging a conviction for insider trading.

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The Supreme Court left in place a June 2018 ruling by the New York-based 2nd U.S. Circuit Court of Appeals, which found there was enough evidence to establish Martoma’s guilt despite defective jury instructions in the trial.

Reporting by Lawrence Hurley; Editing by Will Dunham

Heard from http://feeds.reuters.com/~r/reuters/businessNews/~3/Ws9v9sf5Tk0/supreme-court-rejects-insider-trading-appeal-brought-by-sacs-martoma-idUSKCN1T41SP

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