Gerson Lehrman

Gilman worked as a consultant for Gerson Lehrman Group Scientific Advisory Board starting in 2002, according to a curriculum vitae posted online by the University of Michigan. Loren Riegelhaupt, a spokesman for Gerson Lehrman, a New York-based expert-network firm, declined to comment on the case.

Gilman earned almost $108,000 for 59 consultations with Martoma, CR Intrinsic and the firm referred to as "Investment Adviser A," according to the SEC. He also served as a consultant to Elan and Wyeth from 2003 until 2009. Elan paid him $79,000 for his work on bapi in 2007 and 2008, the SEC said.

Gilman's conduct raises fresh questions about firms that match investors with experts in subjects that could move stock prices, said Erik Gordon, a University of Michigan business professor who follows the pharmaceutical industry.

"If the allegations are true, it's reprehensible conduct for someone who has misused a position of trust," said Gordon, who added that he doesn't know Gilman. "This is crookery of really the lowest possible ethical standards. It doesn't get much lower."

Kara Gavin, a spokeswoman for the University of Michigan Health System, didn't immediately return a call for comment on Gilman. Sheryll Marshall, an administrative assistant in the university's neurology department, said Gilman is well-respected and often participated in medical research.

'Soft-Spoken'

"Everybody comes to him for answers, discussing their patients with him," Marshall said. He's "very nice, soft-spoken. Seems like everybody just loves him."

Gilman earned his undergraduate degree in 1954 and medical degree in 1957, both from the University of California at Los Angeles. He was on the faculty at Harvard Medical School and Columbia University before heading to the University of Michigan, according to the school health system's website.

He was chairman of Michigan's department of neurology from 1977 to 2004, with research work focusing on neurodegenerative disorders including Parkinson's disease and Alzheimer's. He's director of the Michigan Alzheimer's Disease Research Center in the university's medical school, the website says.

Award Winner

In 2003, the university hospital's neurology service was named after Gilman, who's a past president of the American Neurological Association and a winner of many awards, according to the website. He holds an endowed chair at the school and is a fellow of the Royal College of Physicians.