(Reuters) A divided federal appeals court on Monday upheld the insider trading conviction of Mathew Martoma, a former portfolio manager for billionaire Steven A. Cohen, finding enough evidence to establish guilt despite defective jury instructions. In an unusual 2-1 decision, the 2nd U.S. Circuit Court of Appeals, which had upheld Martoma’s conviction and nine-year prison term in August 2017, withdrew its finding at that time that the jury instructions were “not obviously erroneous.”
Conviction Of SAC’s Martoma Upheld Despite Jury Instructions
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