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Federal investigators are putting the final touches on an agreement that would give them access to key evidence in the case against former SAC Capital employee Mathew Martoma, the FT reports.
Last year Martoma was accused of participating in the most lucrative insider trading scheme of all time, in which he used Dr. Sydney Gilman a former professor of neurology at the University of Michigan's medical school, to get inside information on two pharmaceutical stocks.
Up until now, the University of Michigan has refused to give lawyers on the prosecution and/or the defense an encryption key to decode the files on Gilman's laptop — the one on which he allegedly stored the information he passed to Martoma.
Peter Barkey, a spokesman for the medical school, said: “We are in the process of finalising agreement with the US attorney’s office.” He expected it to be completed by Wednesday.
Mr Barkey said the university would not turn over the encryption key because of its responsibility to protect patient confidentiality, but it was nearing an agreement with the government and Mr Martoma’s lawyer to run keyword searches. The negotiation was focused on sorting out the exact search terms, he said.
Looks like this thing is getting down to the wire.
