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Response to Demeter (Original post)

Sun Nov 17, 2013, 08:08 AM

58. New SAC E-Mails Given Martoma as Steinberg Heads to Trial

http://www.bloomberg.com/news/2013-11-15/martoma-gets-newly-discovered-sac-e-mails-documents-from-u-s-.html

SAC Capital Advisors LP e-mails and other documents found on “newly discovered” backup tapes from 2007 and 2008 were turned over to a former fund manager accused of insider trading, his lawyer said.

Mathew Martoma’s legal team received 114,757 pages of the documents this week, the lawyer, Richard Strassberg, said in a letter yesterday to U.S. District Judge Paul Gardephe in Manhattan. Strassberg is seeking a two-week delay of Martoma’s Jan. 6 trial. He said he needs the additional time to analyze the new evidence and prepare witnesses.

“Certain of these materials appear directly relevant to specific allegations made against Mr. Martoma,” Strassberg said in the letter.

Michael Steinberg, another SAC money manager, is set to go on trial on insider-trading charges next week in Manhattan. Steinberg, who worked at SAC’s Sigma Capital Management unit, is charged with trading on inside tips he got from convicted SAC technology analyst Jon Horvath.

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