Richard Strassberg of Goodwin Procter has his work cut out for him in the upcoming insider trading trial of Mathew Martoma, a former portfolio manager at Steven Cohen’s beleaguered hedge fund SAC Capital Advisors. But on Monday, Strassberg managed to keep at least a few bits of unfavorable evidence about his client from ever reaching the jury.
U.S. District Judge Paul Gardephe in Manhattan issued a series of evidentiary rulings favorable to the defense on Monday, one day before the trial is set to begin. The rulings could complicate the government’s task of proving that Martoma traded stocks in the drug companies Elan Corp. and Wyeth Pharmaceuticals based on insider information about clinical trials of the drug bapineuzumab.
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