Ex-SAC Capital Manager Cops To Insider Trading

Law360, New York (April 28, 2011, 3:11 PM EDT) -- Former SAC Capital Advisors LP portfolio manager Donald Longueuil pled guilty Thursday in New York federal court to trading on inside tips gleaned through expert networking firm Primary Global Research LLC.

Longueuil, 35, admitted to U.S. District Judge Jed Rakoff that he conspired with another hedge fund manager, Samir Barai, in May 2008 to obtain confidential information about Marvell Technology Group Ltd. earnings, using the tip to buy 400,000 shares in the company.

“I am sorry for my actions, and for the pain I caused my...
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