Hope this clears things up.
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. 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. In those messages, Horvath passed information that came from inside Dell Inc. and Nvidia Corp., previewing earnings announcements. Steinberg and Plotkin, listed as recipients, exchanged messages with Horvath, according to the government’s evidence. “It’s rarely good news to be mentioned in such detailed fashion by the U.S. like this,” said Anthony Sabino, who teaches law at St. John’s University in New York. “Notwithstanding the settlements that SAC Capital has reached with the SEC, which are very narrow in scope, it still leaves the door wide open to further civil litigation and potential criminal prosecution for others mentioned in the SEC’s complaint.”