Two former hedge fund managers convicted of insider trading in the seven-year U.S. crackdown on Wall Street market manipulation asked the U.S. Court of Appeals in New York to overturn the verdict, arguing improper jury instructions from the trial judge resulted in a wrongful conviction.
SAC Capital Advisors LP’s landmark $1.8 billion settlement of a U.S. government insider-trading probe stretching back to 2007 was approved by a federal judge, bringing to an end the hedge fund’s role as a money manager and capping a decade of insider-trading cases.
SAC Capital Advisors LP’s plea agreement to pay a $900 million penalty should be accepted, U.S. prosecutors told a judge as they seek the biggest criminal fine ever imposed for insider trading following a six-year probe of the firm.
SAC Capital Advisors LP urged a federal judge to approve its record $1.8 billion insider-trading settlement with the government, saying the firm is “deeply remorseful” for the illegal acts of its employees.
Level Global Investors LP co-founder Anthony Chiasson was sentenced to 6 1/2 years in prison for using illegal tips funneled to him from analysts and company insiders to make more than $68 million for his hedge fund.
SAC Capital Advisors LP’s Michael Steinberg became the fund’s longest-serving manager to be convicted of insider trading in a U.S. victory that may increase pressure on his accused one-time colleague, Mathew Martoma, to cooperate in the probe of founder Steven A. Cohen.
SAC Capital Advisors LP fund manager Michael Steinberg had a “dizzy spell” as a jury in Manhattan federal court prepared to deliver its verdict in his insider trading case after only one day of deliberations.
Former Diamondback Capital Management LLC fund manager Todd Newman was sentenced to 4 1/2 years in prison for his role in an insider-trading scheme that used tips from technology company insiders to earn $72 million.
SAC Capital Advisors LP fund manager Michael Steinberg was indicted by a federal grand jury on five counts of conspiracy and securities fraud as the U.S. government’s wide-ranging probe of insider trading at the $15 billion firm got one step closer to founder Steven A. Cohen.