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.
Former Dell Inc. supply manager Daniel DeVore avoided prison after helping prosecutors in federal insider-trading probes of fund managers and analysts, including SAC Capital Advisors LP portfolio manager Michael Steinberg.
Former Dell Inc. supply manager Daniel DeVore deserves leniency for helping prosecutors in federal insider-trading probes that included SAC Capital Advisors LP fund manager Michael Steinberg, the U.S. said.
Former Diamondback Capital Management LLC analyst Jesse Tortora said he was paid a bonus of more than $2 million the year illegal tips he provided his boss on Dell Inc. helped earn the fund more than $3.8 million.
Ex-Diamondback Capital Management LLC analyst Jesse Tortora testified he was the conduit for illicit tips on technology companies that SAC Capital Advisors LP fund manager Michael Steinberg later traded on.
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.
Former Diamondback Capital Management LLC fund manager Todd Newman, facing sentencing May 2 for his role in a $72 million insider-trading scheme, asked for a lesser sentence than the 78-month maximum prison term sought by U.S. court officials.
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.
Arrests tied to the insider-trading case involving Galleon Group LLC made obtaining illegal tips harder and often less specific, an analyst for former Diamondback Capital Management LLC fund manager Todd Newman testified.