SAC Capital Advisors Manager Accused of Pressuring Analyst for Inside Information

Prosecutors are seeking to obtain an indictment against a former SAC Capital Advisors portfolio manager, Michael Steinberg.  Steinberg specialized in technology stocks at SAC’s Sigma Capital Management Unit.  According to Jon Horvath, a former anaylst at SAC who has pleaded guilty to securities fraud, Steinberg pressured him to gather confidential information about technology companies.  Authorities hope that charging Steinberg may eventually lead to information that could be used to file criminal charges against SAC founder Steven Cohen.

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