Key Witness Takes Stand Against SAC’s Steinberg

Law360, New York (November 26, 2013, 7:40 PM ET) -- A government cooperator who is expected to be a star witness took the stand late Tuesday in the insider trading trial of Michael Steinberg, telling jurors about his own crimes and close working relationship with the SAC Capital Advisors LP portfolio manager.

Jon Horvath, one of a few research analysts who worked under Steinberg at the hedge fund, began testifying Tuesday afternoon at Steinberg’s trial in Manhattan federal court.

Responding to questions from a prosecutor, Horvath told jurors that he had pled guilty to insider trading...
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