Bloomberg – If Mathew Martoma was ever going to strike a deal with the government and turn against his former boss, Steven A. Cohen, he probably would have done it a long time ago. The odds that he ever will look even more remote now.
Lawyers for Martoma, the former SAC Capital Advisors fund manager, filed excerpts from a May 2012 deposition in which Cohen told attorneys for the Securities and Exchange Commission that he decided to sell SAC’s stakes in Wyeth and Elan Corp. based on advice from the head of a different hedge fund. Martoma’s insider-trading trial is scheduled to begin next month. His lawyers say the previously undisclosed testimony shows Martoma wasn’t involved in Cohen’s decisions on the trades.
