Martoma And Litvak: Prison Can Wait ... Sometimes

Martoma And Litvak: Prison Can Wait ... Sometimes

November 14, 2014, Law360

Covington's Daniel Suleiman authored this article on Matthew Martoma, former trader at SAC Capital Advisors LP who was sentenced to nine years in prison for insider trading:

"Defendants convicted of violent crimes rarely have the luxury of avoiding incarceration after conviction. But it seemed possible that Martoma, who was convicted of selling shares in two pharmaceutical companies shortly before the negative results of an Alzheimer’s drug trial became public, might remain free while the appeals court considers his case. Last month, over the prosecution’s objection, the same court allowed a former Jefferies Group LLC trader, Jesse Litvak, to avoid prison while he challenges his convictions for misrepresenting to investors the value of certain mortgage-backed securities."