Fox Business reporter Charlie Gasparino just tweeted out this scoop about the insider trading case against former SAC Capital subsidiary portfolio manager Mathew Martoma.
Gasparino went on Fox Business to explain shortly after this tweet, and pointed out that it isn’t strange for companies to pay for their employees’ legal fees. However, Martoma hasn’t been a SAC employee for years.
He added that Martoma’s lawyer charges $1,300 an hour.
Definitely a pretty penny.