May 16

The SAC Saga Continues: Steinberg Sentenced to 3 1/2 Years in Prison

This afternoon Michael Steinberg, a former SAC portfolio manager who was convicted of insider trading last year, was sentenced by U.S. District Court Judge Richard J. Sullivan to 42 months in prison. Judge Sullivan also “ordered Steinberg to pay a $2 million fine and forfeit… Read More

Dec 19

Bharara’s Insider Trading Inferno Engulfs Its Next Victim: Former SAC Portfolio Manager Steinberg Convicted

Yesterday – seemingly before the ink even dried on SAC Capital Advisor’s unprecedented billion dollar plea agreement – U.S. Attorney Preet Bharara’s office secured the conviction of former SAC portfolio manager Michael Steinberg. As recently reported by White Collar Alert editor Carrie Sarhangi, Steinberg was… Read More

Nov 14

The Blame Game: Who Should be Indicted – the Company or the Individual?

Just how wide is the net being cast upon SAC by federal authorities?  Last week, I posted about the unprecedented plea agreement worked out between prosecutors and SAC Capital Advisors, L.P. in what could be described as the most rampant insider trading scheme ever charged.… Read More