Date set for trial of former SAC manager Former SAC Capital portfolio manager Mathew Martoma will go to trial on November 4 to face allegations that he traded shares of two pharmaceutical companies after learning that their clinical drug trial would disappoint. Richard Strassberg, a lawyer for Mr Martoma, had argued for a later trial date partly because he expected new allegations to be added to the case. IN US & Canadian Companies "We do understand possibly the government will seek to file a superseding indictment at the end of July with new details," Mr Strassberg told Judge Paul Gardephe, who set the date. In a superseding indictment prosecutors usually add additional detail or charges to a case. Arlo Devlin Brown, an assistant US attorney, said the government had received new information from a bank and a second batch of emails and back-up tapes from SAC. Mr Martoma allegedly recommended to Steven Cohen, founder of the $15bn hedge fund, that SAC sell its positions in Wyeth and Elan, the developers of the Alzheimer drug, after gaining access to a confidential PowerPoint presentation from a doctor on the panel that showed the drug was ineffective. After a 20-minute phone conversation between Mr Martoma and Mr Cohen, SAC allegedly sold its entire position and made $276m in profits and avoided losses, prosecutors said. SAC is facing redemptions from investors after prosecutors turned up the heat on it last month, telling the firm it may face criminal charges. SAC said it would no longer give "unconditional" co-operation to the government. Mr Brown said SAC initially gave the government emails related to the trades in Elan and Wyeth before Mr Martoma was indicted. Since then, he said, SAC has turned over all emails involving Mr Martoma and back-up tapes for the four years he worked for the hedge fund. He suggested there were new documents but that not much of the material was salient. Mr Strassberg sought a February trial date because he was scheduled to represent another client in a September trial unrelated to the case. Mr Gardephe said he was open to changing the trial date if necessary. One wrinkle in the case that neither side has ironed out is accessing the hard drive of Sidney Gilman, the doctor on the committee overseeing the drug trial. Mr Gilman, who was a professor of neurology at the University of Michigan Medical School until last year, allegedly gave the negative trial results to Mr Martoma two weeks before their announcement. Mr Gilman has an immunity deal with prosecutors and is co-operating with the case against Mr Martoma. Mr Strassberg and Mr Brown said they had failed to persuade the university to hand over the encryption key to unlock the hard drive. Mr Brown said government officials could see file names but were unable to access the files. He said the university would not provide the key, citing concerns about patient confidentiality or attorney client privilege. A spokeswoman for the medical school could not immediately be reached. The judge set a hearing for later this month to sort out the issue.