UM Staff Member Investigated in Massive Insider-Trading Case

By: Associated Press
By: Associated Press
Former hedge fund manager charged with giving tip that led to $276 million profit.

Courtesy University of Michigan

The University of Michigan says it's investigating the role of one of its senior medical school faculty members in a $276 million insider trading case.
Federal investigators say Dr. Sidney Gilman was involved with ex-hedge fund manager Mathew Martoma, who's accused of getting secret, advance results of tests on an experimental Alzheimer's drug.
Martoma was arrested Tuesday on charges filed in New York federal court.
The 80-year-old Gilman is a neurology professor and chaired a safety committee overseeing trials of the drug.
Gilman lawyer Marc Mukasey said his client is cooperating with investigators and has a non-prosecution agreement with prosecutors.
The university says in a statement that it takes the situation "very seriously" and is "carefully reviewing all of Dr. Gilman's activities" at the Ann Arbor school.


WILX.com is happy to provide a forum for commenting and discussion. Please respect and abide by the house rules:

Keep it clean, keep it civil, keep it truthful, stay on topic, be responsible, share your knowledge, and please suggest removal of comments that violate these standards.

See full commenting rules...
powered by Disqus
WILX 500 American Road Lansing, MI 48911 517-393-0110
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 180456381 - wilx.com/a?a=180456381
Gray Television, Inc.