SAC's Steinberg Demanded Secrecy, Analyst Testifies

Law360, New York (December 2, 2013, 7:04 PM EST) -- SAC Capital Advisors LP portfolio manager Michael Steinberg wanted confidential financial information gleaned from Dell Inc. kept secret, his former analyst testified Monday at Steinberg's insider trading trial.

Steinberg complained that sensitive financial figures he had sourced from a fellow hedge fund professional were being too widely distributed, Jon Horvath, a former analyst who worked for Steinberg, testified in Manhattan federal court.

The complaint came up after Steinberg failed to make money despite having inside information ahead of a November 2008 Dell earnings announcement, Horvath said....
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.