Full Text US v. Martoma Insider Trading Complaint

November 21, 2012

READ the Full-text of the United States v. Mathew Martoma Complaint

Mathew Martoma allegedly got sneak peeks at drug data, and the Complaint alleges that he then recommended that his hedge fund build up a massive position in Elan and Wyeth stock; thereafter, he purportedly caused the fund to sell those shares after getting a secret look at the unexpectedly bad results of a clinical drug trial. The Complaint alleges that the hedge fund made profits and avoided losses to the tune of $276 million, of which Martoma personally realized some $9 million.