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University of Michigan Professor resigns over inside trading allegations

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The University of Michigan logo is shown in a stock image.
The University of Michigan logo is shown in a stock image.

ANN ARBOR (WKZO) -- A University of Michigan professor linked to an insider trading scheme has retired from the university.

Officials confirmed Wednesday that medical professor Sidney Gilman submitted his retirement notice on Tuesday.  His retirement comes as the university continues to investigate Gilman's alleged ties to Mathew Martoma, a former portfolio manager for CR Intrinsic Investors.

Martoma has been charged in U.S. District Court with using confidential information about an Alzheimer's drug to help his firm avoid losses between 2006-2008.  A Security and Exchange Commission claim states that Martoma carried out the scheme with Gilman's help.

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