"Federal officials on Tuesday charged a former hedge fund portfolio manager and his firm with participating in a $276 million insider trading scheme, which they said was the largest insider trading case ever brought by the Securities and Exchange Commission.
The office of U.S. Attorney for the Southern District of New York Preet Bharara
charged Mathew Martoma with selling and shorting shares of the drug
companies Elan and Wyeth, based on inside information from drug trials
that had not been publicized. The scheme benefited Martoma's hedge fund
by $276 million, according to court documents"