SAC Capital Advisors LP money manager Michael Steinberg lost a bid to delay his insider-trading case, leaving him to face a jury next week in the first of two upcoming trials tied to the hedge fund run by Steven A. Cohen...Steinberg’s trial is to be followed in January by that of former SAC fund manager Mathew Martoma, also charged with insider trading...Steinberg’s trial will “give us our first really detailed peek behind the curtain of one of the most secretive hedge funds in the world,” said Andrew Stoltman, a Chicago-based securities lawyer. Anthony Sabino, a law professor at St. John’s University in New York, said the trial will make Cohen “more nervous than a cat on a hot stove.” “These cases have many implications for Cohen. The first implication is, even before the clerk says ‘all rise’ there’s the question whether Steinberg will strike a deal at the last minute to implicate his boss,” Sabino said. With witnesses, “Cohen has got to worry what they’re going to say about him -- was he in the room, what did he do?” [Bloomberg, related]
Fire Up The Super Duper Weenie Truck: Steve Cohen's Got A Party To Plan
It's the happiest of holidays up in Stamford, CT.