SAC Manager Sought 'Illegal Edge' In Trading, Jurors Hear

Law360, New York (November 20, 2013, 8:03 PM EST) -- SAC Capital Advisors LP Portfolio Manager Michael Steinberg tapped a network of corrupt financial industry professionals for information that could give him an "illegal edge" in trading technology stocks, a federal prosecutor said Wednesday at the opening of Steinberg's insider trading trial.

Steinberg pressed an SAC analyst with access to tech industry connections to acquire insider information about Dell Inc. and Nvidia Corp., then made trades that earned at least $1.4 million in profits, Assistant U.S. Attorney Antonia Apps told jurors.

"The defendant wanted and the...
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