Judge denies bid to delay insider trading trial of SAC executive

Mathew Martoma, the latest employee of Steven A. Cohen’s SAC Capital Advisors to face trial on insider trading charges, lost a bid on Friday to delay his trial, which is scheduled to start on January 6. Martoma’s lawyer, Roberto Braceras, told U.S. District Judge Paul Gardephe in New York that the conviction of SAC portfolio manager Michael Steinberg on Wednesday had ignited a new round of media stories that often mentioned Martoma, raising the possibility jurors could be tainted by the coverage. But Gardephe said he had already postponed the trial from the autumn to January “extremely reluctantly,” adding that the intense media attention on SAC would likely continue.

    

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