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DEC 18, 2013 - MarketWatch

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SAC fund manager guilty in insider-trading case

NEW YORK (MarketWatch) - Michael Steinberg, a portfolio manager at SAC Capital Advisors, was found guilty on five counts related to insider trading by a New York jury Wednesday following a trial that lasted more than four weeks. Steinberg, 41 years old, had been charged with five counts of securities fraud and conspiracy to commit securities fraud for trades in Dell Inc., now a private company, and Nvidia Corp. in 2008 and 2009 that prosecutors said were based on insider information and part of a broad conspiracy involving illegal tips on technology stocks. The jury had begun its ... Read More

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