Michael Steinberg, the SAC Capital Advisors fund manager who was indicted last week on insider trading charges, has begun his criminal defense with an unusual goal: to find a new judge.
On Friday when Steinberg was indicted, his lawyer Barry Berke asked U.S. District Judge Richard Sullivan to allow the case to be randomly assigned to a new judge. Berke claimed Sullivan had in a past insider trading case given prosecutors an easier burden to meet compared to rulings by two other judges. He called this a "significant legal issue."
Sullivan said he would "consider" letting Steinberg's case be re-assigned, but hinted that might not happen….