Judge allows SAC Capital insider-trading lawsuit to proceed

A US federal judge in Manhattan denied motions to dismiss a case against Mathew Martoma and Sidney Gilman

Thursday 14 August 2014 at 14:32

A federal judge in Manhattan has allowed a class-action lawsuit against hedge-fund chief Steven A Cohen's SAC Capital Advisors to continue, according to documents released Thursday.

Judge Victor Marrero on Wednesday granted a motion by the defendants to dismiss certain claims in the suit, but denied motions regarding the other claims. The judge also denied motions to dismiss the case against defendants Mathew Martoma and Sidney Gilman.