Prosecutors Say Two Tipped SAC's Steinberg On Intel

Sep 20 2013 | 10:21am ET

Federal prosecutors have identified two alleged sources of insider information to SAC Capital Advisors portfolio manager Michael Steinberg.

Lacey Higgins, a supply-demand analyst at Intel Corp., and Mark Lipacis of Jefferies & Co. passed confidential information about Intel to Steinberg, prosecutors said in a bill of particulars this week. The document names 15 co-conspirators, most of whose names have appeared in other insider-trading cases.

Higgins allegedly tipped Steinberg from 2006 through 2009. Before joining Jefferies in San Francisco, Lipacis worked at Morgan Stanley and Prudential Equity Group.

Steinberg's trial is set to begin on Nov. 18.


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of