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SAC Hedge Fund Insider Trading Professor Resigns

New York (HedgeCo.Net) – The Neurologist linked to the Alzheimer drug tests/hedge fund insider trading case, has resigned from his position at the University of Michigan.

Professor Sid Gilman is accused of leaking data to SAC hedge fund trader Mathew Martoma.

Gilman was paid $1,000 an hour to act as a consultant to Martoma and in 2008 allegedly gave the hedge fund manager details of a clinical trial for an Alzheimer’s drug being developed by Wyeth LLC. The neurologist treated Martoma as a “friend and pupil” while leaking him secret data for 18 months, authorities said.

Dr. Gilman has received numerous honors and awards, including honorary member of the American Neurological Association; fellow of the American Association for the Advancement of Science, the Royal College of Physicians, and the American Academy of Arts and Sciences; member of the Institute of Medicine of the National Academy of Sciences; a national associate of the National Academy of Sciences; and past president of the American Neurological Association. The Neurology Service of the U-M Hospitals was named The Gilman Service in 2003, and the Department of Neurology created an annual Sid Gilman and Carol Barbour Lecture in Neuroscience the same year.

Alex Akesson
Editor for HedgeCo.net
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