The manager, Mathew Martoma, has been charged with conspiracy to commit securities fraud and two counts of securities fraud, and faces up to 60 years in prison if convicted.
The SEC is also suing investors in CR Intrinsic, the subsidiary of SAC Capital Advisors that Martoma worked for, and a University of Michigan professor who provided Martoma with the insider information. The professor has a non-prosecution deal with the U.S. Attorney’s office and has been cooperating with the government during the investigation.
Paul Ausick
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