Monday, March 18, 2013

Was SAC’S Plotkin Tipped Off by Analyst?

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.....

Wait...wait...there's more at

No comments:

Post a Comment