Top SAC Manager Accused Of Pressuring Analyst For Tips, Could Face Charges

Feb 14 2013 | 2:19pm ET

Prosecutors appear poised to seek an indictment against a top SAC Capital Advisors portfolio manager, buoyed by an allegation from a former SAC analyst that he was pressured to garner insider information.

The U.S. Attorney's Office in Manhattan is preparing a grand-jury presentation against Michael Steinberg. Steinberg, who specializes in technology stocks at SAC's Sigma Capital Management unit, would be the most senior person at the hedge fund charged if the grand jury returns an indictment.


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Publisher's Note

    Hedge Funds Care Gala Raises $2 Million For Charity

    Mar 10 2014 | 11:33am ET

    A huge thank you to all of the people who helped make last Thursday’s HFC NY Open Your Heart to the Children Benefit such a success. The charity gala raised nearly $2 million to prevent and treat child abuse in New York, New Jersey and Connecticut. Read more…