Nov 21 2013 | 11:40am ET
SAC Capital Management trader Michael Steinberg was the beneficiary of a "secret pipeline" of confidential corporate information, helping him earn millions for the scandal-tarred hedge fund, prosecutors alleged yesterday.
Steinberg's insider-trading trial got underway in earnest with opening statements in Manhattan federal court. Prosecutor Antonia Apps told the newly-empanelled jury that Steinberg worked to get "secret, confidential information" through a network of "corrupt" corporate insiders and hedge fund analysts.
Mar 10 2014 | 11:33am ET