Michael Steinberg, a top portfolio manager at Steven A. Cohen’s SAC Capital Advisors hedge fund, was found guilty on Wednesday on charges that he traded on insider information. A federal jury in Manhattan found Steinberg, 41, guilty on all five counts of conspiracy and securities fraud that he faced. Prosecutors […]
Tag: Insider Trading
SAC Shrinks U.S. Stock Holdings by $2 Billion Amid Probe
Billionaire Steven A. Cohen’s SAC Capital Advisors LP, the hedge-fund firm facing federal insider-trading charges and client defections, cut its U.S. stock-listed holdings by about $2 billion in the second quarter. SAC held $16.2 billion of U.S.-listed stocks as of June 30, according to a filing yesterday with the U.S. […]
Former KPMG partner pleads guilty to insider trading scheme
Scott London, a former senior partner with accounting firm KPMG, agreed to plead guilty to securities fraud for his involvement in insider trading, according to an announcement from the U.S. Attorney’s Office in Los Angeles. London, 50, supervised more than 500 accounting professionals at KPMG and oversaw audits of Herbalife […]
