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...
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