November trial date set for ex-hedge fund manager

NEW YORK (AP) — A November trial date has been set for the New York insider trading trial of a former hedge fund portfolio manager for SAC Capital Advisors.

A federal judge in Manhattan scheduled Mathew Martoma’s trial for Nov. 4.

Martoma is accused of earning $9 million in bonuses after persuading a medical professor to leak secret data from an Alzheimer’s disease trial between 2006 and 2008.

The government has alleged that Martoma’s inside information enabled other investment professionals to earn a quarter-billion dollars illegally.

Martoma has pleaded not guilty. He is free on bail. His lawyer, Richard Strassberg, declined to comment after Wednesday’s hearing.

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