In July 2008 Matthew Martoma spoke to the owner of the affiliated hedge funds where he worked and recommended that they should dump securities of Elan and Wyeth before the latest drug trial results of an Alzheimer?s drug the companies were developing were announced. The very next day Martoma and the hedge funds' owner told a trader at the hedge fund to start selling its entire position in Elan.
In July 2008 Matthew Martoma spoke to the owner of the affiliated hedge funds where he worked and recommended that they should dump securities of Elan and Wyeth before the latest drug trial results of an Alzheimer?s drug the companies were developing were announced. The very next day Martoma and the hedge funds' owner told a trader at the hedge fund to start selling its entire position in Elan.
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