DealBook – SAC Capital Advisors, the hedge fund giant hit with a new insider trading charge last week, plans to hold a conference call on Wednesday morning to reassure investors and allay concerns related to the latest case.
Federal prosecutors have accused Mathew Martoma, a former SAC portfolio manager, with corrupting a doctor who provided him with confidential data on a drug trial. The secret information, authorities say, allowed SAC to earn millions and avoid losses totaling $276 million. For the first time in the government’s years of investigating SAC over improper trading, the charges link Steven A. Cohen, the fund’s owner, to questionable trades.
