SAC Capital Advisors LP fund manager Michael Steinberg lost a bid for the jury to be told about a secret recording that his lawyer said depicted the money manager as wary of inside information and demonstrated his innocent mindset.
SAC Capital Advisors LP compliance officers and the firm’s outside lawyers questioned Jon Horvath in 2011, when he was an analyst at the firm, about insider trading with expert networker John Kinnucan and the firm Primary Global Research LLC, U.S. prosecutors said.
Ex-SanDisk Corp. executive Donald Barnetson pleaded guilty to passing nonpublic information to hedge fund consultant John Kinnucan in the U.S.’s five-year crackdown on insider trading by fund managers, expert-networking consultants and employees of publicly-traded companies.
A former Flextronics International Ltd. executive, pleading guilty in a nationwide insider trading probe, admitted he passed inside information while working as a consultant to two expert networking firms.
John Kinnucan, the Broadband Research LLC founder who earlier refused to cooperate in an FBI probe of insider trading, admitted passing illegal tips on companies to hedge-fund clients and obstructing justice.
John Kinnucan, the expert-networker who refused to cooperate in a U.S. probe of insider trading before admitting to passing tips to hedge-fund clients, was sentenced to four years and three months in prison.