Hedge Fund Paid For Inside Dell Tips, Analyst Testifies

Law360, New York (November 14, 2012, 8:55 PM EST) -- Hedge fund Diamondback Capital Management LLC paid a source who provided confidential information on Dell Inc. $175,000 with the approval of portfolio manager Todd Newman, a former Diamondback analyst testified Wednesday at Newman's insider trading trial.

Jesse Tortora, a one-time analyst under Newman, told jurors that Stamford, Conn.-based Diamondback made under the table payments to Sandeep “Sandy” Goyal, who provided Dell financial figures ahead of public earnings reports using a source in Dell's investor relations department.

Newman and Anthony Chiasson, the founder of now-defunct hedge fund...
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