SAC’s Steinberg Knew About Dell Source, Witness Testifies

Law360, New York (November 27, 2013, 7:59 PM EST) -- SAC Capital Advisors LP portfolio manager Michael Steinberg knew information he traded on came from a source within Dell Inc., his former analyst testified Wednesday at Steinberg's insider trading trial in Manhattan federal court.

Jon Horvath, a former analyst under Steinberg at SAC's Sigma Capital Management LLC, said he told his boss that high-level numbers he was getting from another hedge fund analyst, Jesse Tortora, came from a source within Dell.

"I had told Mike that Jesse had a contact at Dell, inside the company," Horvath...
To view the full article, register now.

Related

Sections

Case Information

Case Title

Magistrate judge case number: 


Case Number

1:12-cr-00121

Court

New York Southern

Nature of Suit

Date Filed

February 6, 2012

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.