Mike Steinberg Not Afraid To Make A Grown Man [Who May Or May Not Have Been Feeding Him Inside Info] Cry

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Michael Steinberg was furious after receiving an email in October 2010 from a research consultant he had hired, according to the lawyer for the SAC Capital Advisors LP portfolio manager. In the email, the consultant told his clients that the Federal Bureau of Investigation had contacted him about insider trading. Mr. Steinberg called the consultant and made him cry, according to the lawyer, Barry Berke. Mr. Steinberg was irate about the possibility that the consultant, John Kinnucan, had been feeding him illegal inside tips, Mr. Berke said. "[Mr. Steinberg said] 'is this inside information you're giving me?'" Mr. Berke told U.S. District Judge Richard Sullivan on Monday. "And [Mr. Kinnucan] is like 'no, no, I swear, Mike, it's not.'"...The content of Mr. Steinberg's conversation with Mr. Kinnucan came out in another conversation that was recorded at the behest of the FBI. In that one, former SAC analyst Jon Horvath told ex-Level Global Investors LP analyst Spyridon "Sam" Adondakis that his boss, Mr. Steinberg, had ripped into Mr. Kinnucan after receiving the email. Unknown to Mr Horvath at the time, Mr. Adondakis was cooperating with the FBI, according to prosecutors. [WSJ]

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