My crystal ball remains intact. As predicted here last month, the Supreme Court denied a request by former SAC Capital Advisors trader Mathew Martoma to review his insider trading conviction. The high court’s one-line order will leave Martoma in federal prison until September 2021.
Why the Court Denied Martoma’s Petition—An Educated Guess
The Justice Department alleged that Martoma misused material, non-public information that he received from two doctors involved in a clinical drug trial. Near the end of the trial, one of the doctors allegedly informed Martoma that the results of the trial would be disappointing. Upon receiving this ...