U.S. prosecutors will try to persuade a judge today to let them tell the jury weighing insider trading charges against former SAC Capital Advisors LP Michael Steinberg that the key witness against him wasn’t just testifying against his former boss to save his own skin.
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.
The lawyer for SAC Capital Advisors LP money manager Michael Steinberg, accused of insider trading, challenged testimony of a former fund analyst that he sought secrecy in passing on data because it was an illegal tip.
SAC Capital Advisors LP fund manager Michael Steinberg’s insider-trading trial began with a Manhattan federal judge questioning about 100 potential jurors about their views on Wall Street, fund managers and financial fraud.
SAC Capital Advisors LP fund manager Michael Steinberg reaped “big money” on illicit tips on Dell Inc. and Nvidia Corp. funneled to him by his analyst, Jon Horvath, a prosecutor told a Manhattan federal jury.
SAC Capital Advisors LP money manager Michael Steinberg lost a bid to delay his insider- trading case, leaving him to face a jury next week in the first of two upcoming trials tied to the hedge fund run by Steven A. Cohen.
Steven A. Cohen’s SAC Capital Advisors LP won partial approval of its $1.8 billion settlement with the U.S., as a federal judge said he’ll sign off on an agreement to resolve a civil money-laundering case against the hedge fund.
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.