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....
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