A convicted SAC Capital Advisors LP analyst at the center of
a federal criminal probe of insider trading passed inside information to SAC
fund manager Gabriel Plotkin, according to internal e-mails and two people
familiar with the matter told Bloomberg
The U.S. Securities and Exchange Commission said last week
in a court filing that the analyst, Jon Horvath, funneled nonpublic information
on technology stocks to two unidentified portfolio managers at Steven Cohen’s
$15 billion hedge fund. The men then traded on the information, reaping more
than $6 million for SAC Capital. Previously, only one had been identified in a
separate court case: SAC fund manager Michael Steinberg.
The SEC’s complaint, filed the same day as its $616 million
insider trading settlement with two SAC units, cited the same e-mails included
as evidence by prosecutors in the trial of two of Horvath’s co-defendants.....
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