insider trading http://michiganradio.org en Former University of Michigan Medical School professor testifies in insider-trading case http://michiganradio.org/post/former-university-michigan-medical-school-professor-testifies-insider-trading-case <p>A former University of Michigan Medical School professor told a New York jury that he was “ashamed” of his role in an insider-trading case.</p><p>Sidney Gilman was an Alzheimer’s researcher at the university with major credentials; the 81-year-old neurologist worked at<a href="http://www.forbes.com/sites/larryhusten/2012/11/27/the-doctor-at-the-center-of-the-insider-trading-scandal/"> Harvard, Columbia and then Michigan</a>, where he chaired the neurology department.</p><p>Now, the retired professor is a key witness against portfolio manager&nbsp;<span style="color: rgb(51, 51, 51); font-family: Georgia, Times, serif; font-size: 15px; line-height: 22px;">Mathew Martoma</span><span style="line-height: 1.5;">&nbsp;from SAC Capital, a Connecticut-based company.</span></p><p>During his testimony on Tuesday, Gilman said he gave Martoma secrets about a trial for an Alzheimer’s treatment from 2006 to 2008.</p><p>As Michigan Radio's Kate Wells reported in 2012, that information was pretty valuable to Martoma and SAC Capital – to the tune of $276 million:</p><p> Wed, 22 Jan 2014 17:08:39 +0000 Michigan Radio Newsroom 16134 at http://michiganradio.org Former University of Michigan Medical School professor testifies in insider-trading case In this morning's news: Flint schools, insider trading, and a surprise mayoral candidate http://michiganradio.org/post/mornings-news-flint-schools-insider-trading-and-surprise-mayoral-candidate <p><strong>Flint schools develop deficit plan</strong></p><p>The Flint school district has a deficit elimination plan for the coming year.&nbsp; School leaders approved the plan last night.&nbsp; Michigan Radio’s Steve Carmody <a href="http://www.michiganradio.org/post/flints-board-education-approves-deficit-elimination-plan">reports</a> that the plan calls for job cuts and the closure of two elementary schools.</p><p><strong>Former U of M doctor to testify in insider trading case</strong></p><p>A former University of Michigan neurologist could serve as a key witness in an insider trading case. &nbsp;SAC Capital Advisors has been charged with wire fraud and securities fraud.&nbsp; <a href="http://www.michiganradio.org/post/former-university-michigan-neurologist-could-be-key-witness-federal-insider-trading-case">According to</a> Michigan Radio’s Steve Carmody, “one of the hedge fund portfolio managers indicted for securities fraud allegedly obtained information about a new Alzheimer’s drug from a University of Michigan neurologist in 2008.”&nbsp; Dr. Sidney Gilman advised the company that the experimental drug was not going to be successful.</p><p><strong>New candidate enters Detroit mayoral race</strong></p><p>Mike Dugeon, a barber from Detroit, has announced his intent to run for mayor.&nbsp; The hopeful write-in candidate announced his plan to run yesterday.&nbsp; Alana Holland <a href="http://www.michiganradio.org/post/mike-dugeon-run-against-mike-duggan">reports</a> “Whoever is behind the campaign for the new entry&nbsp;Dugeon&nbsp;could potentially hurt&nbsp;Duggan's&nbsp;chances in the Aug. 6 primary.” Fri, 26 Jul 2013 11:53:36 +0000 Michigan Radio Newsroom 13706 at http://michiganradio.org In this morning's news: Flint schools, insider trading, and a surprise mayoral candidate A former University of Michigan neurologist could be a key witness in federal insider trading case http://michiganradio.org/post/former-university-michigan-neurologist-could-be-key-witness-federal-insider-trading-case <p>A huge Connecticut-based hedge fund owned by an embattled billionaire is facing insider-trading charges.&nbsp;&nbsp;&nbsp; And a former University of Michigan professor may have played a part.&nbsp;</p> Thu, 25 Jul 2013 21:45:00 +0000 Steve Carmody & The Associated Press 13701 at http://michiganradio.org A former University of Michigan neurologist could be a key witness in federal insider trading case Money, ego, and meds: Why would UM doc sell out to hedge fund? http://michiganradio.org/post/money-ego-and-meds-why-would-um-doc-sell-out-hedge-fund <p>You're an 80-year-old famed neurologist at the University of Michigan. You're a giant in your field, with a list of honors and awards as long as your arm. You're such a big name in Alzheimer's research that major drug companies ask you to run their clinical trials.</p><p>And then you blow it all by giving secret information to a hedge fund investor in what the FBI and the SEC are calling most lucrative insider trading scheme ever.&nbsp;</p><p>But, why?</p><p><strong>The Money</strong></p> Wed, 21 Nov 2012 19:07:29 +0000 Kate Wells 10020 at http://michiganradio.org Money, ego, and meds: Why would UM doc sell out to hedge fund?