The Empire of Edge
In 2012, prosecutors accused S.A.C.’s Mathew Martoma of “engineering the most lucrative insider-trading scheme in history.” Patrick Radden Keefe reports.
S.A.C. Capital Advisors made investments in several thousand stocks, but by summer 2008 its single largest position was in bapineuzumab—a potential Alzheimer's drug that investors hoped would be "the next Lipitor." Steven Cohen had accumulated hundreds of millions in Elan and Wyeth stock.