SAC Trial Pushed Back To January So Lawyer Involved In Two Cases Doesn’t Have To Start Each Day’s Proceedings Hunched Over Making The “1 Minute Sign” As He Tries To Catch His Breath

SAC Trial Pushed Back To January So Lawyer Involved In Two Cases Doesn’t Have To Start Each Day’s Proceedings Hunched Over Making The “1 Minute Sign” As He Tries To Catch His Breath

A federal judge on Tuesday pushed back the insider trading trial of former SAC Capital Advisors portfolio manager Mathew Martoma to January 6. U.S. District Judge Paul Gardephe delayed the trial, originally scheduled for November 4, at the request of Martoma’s lawyer, Richard Strassberg, who is taking part in another trial starting this week…Strassberg, Martoma’s lawyer, is also representing Bank of America Corp’s Countrywide unit in a trial over allegations that it defrauded Fannie Mae and Freddie Mac with shoddy home loans. Because of proceedings in the Countrywide case, Strassberg arrived, out of breath, in Gardephe’s crowded courtroom an hour after the scheduled 12:30 p.m. start of a hearing. “Yes, I have arrived,” Strassberg said, when the court reporter asked if he was present. Gardephe took the bench a few minutes later, and Strassberg informed him that he had to return to the courtroom of U.S. District Judge Jed Rakoff, who is presiding over the Countrywide case, by 2 p.m. [Reuters]

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