Ex-Jefferies Fund Manager Denies Using Inside Tips

Law360, New York (September 29, 2010, 7:17 PM EDT) -- A former Jefferies Group portfolio manager sought to rebut insider trading allegations against him Wednesday, testifying that he never used tips from a former UBS AG banker while trading in grocery chain Albertsons Inc.

Former Jefferies Paragon Fund manager Joseph Contorinis told jurors during a trial in the U.S. District Court for the Southern District of New York that newspaper articles and analyst firm reports largely guided his trading decisions in the stock of the grocery chain, which was acquired in a buyout deal in 2006....
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