Newman, Chiasson Found Guilty Of $70M Trades On Dell Tips

Law360, New York (December 17, 2012, 6:41 PM EST) -- A jury on Monday found former hedge fund executives Anthony Chiasson and Todd Newman guilty of participating in an insider trading ring to make about $70 million on Dell Inc. and Nvidia Corp. stock.

Chiasson, a founder of Level Global Investors LP, and Newman, a former portfolio manager at Diamondback Capital Management LLC, were found guilty on all counts they faced connected to trades ahead of earnings reports the companies released in 2008 and 2009. They were both convicted a count of conspiracy. Newman was also...
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