SAC Capital Advisors portfolio manager Michael Steinberg deliberately avoided telling his boss Steven A. Cohen that he was trading on Dell Inc with inside information, a former analyst at the hedge fund testified on Monday. Jon Horvath, the U.S. government's star witness against Steinberg in the insider trading case, told a jury in Manhattan federal court that Steinberg had to reassure Cohen in November 2008 about his bets on Dell (DELL.SN) which were contrary to Cohen's own sense and the market wisdom at the time. U.S. prosecutors showed the court a November 17 instant message conversation in which Steinberg told Horvath that Cohen had been "drilling" him for more details about a call he had made on Dell's stock. Horvath said Steinberg, in describing his conversation with Cohen, emphasized to Horvath that he had left out the fact that the information came from a company insider.
via Business News - Yahoo Finance http://finance.yahoo.com/news/sacs-steinberg-wanted-edgy-information-003108556.html
0 commentaires:
Enregistrer un commentaire