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Mike Steinberg Undone By LivingSocial Deal For Screenwriting Class

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As of Monday morning, SAC trader Michael Steinberg was innocent against charges of insider trading in the eyes of a juror named Demethress Gordon. But on Monday evening, Gordon "attended a screenwriting class that happened to focus on the subtext of characters' actions." And then this happened:

In deliberations the following day, with that backdrop in her mind, she says she listened to an analogy offered by another juror, who told her to imagine walking through the door. "He told me to go through the door," she said. "I understood what he meant, without him having to say, 'Walk to the door. Turn the knob. Step through it.' " It suddenly clicked. People can understand more than they are told, she said. Mr. Steinberg must have known the information he received was based on nonpublic information, she said, even if it wasn't explicitly made clear. She explained her reasoning to the last dissenting juror, who then agreed, she said, prompting a "guilty" vote, which was announced shortly before 4 p.m. Wednesday.

Turnabout by Juror Was Crucial in Steinberg's SAC Case [WSJ]


Informant's Assistance On Insider Trading Case Slightly Undone By Telling "Series" Of Lies To Government

On the one hand, Roomey Khan's assistance as a cooperating witness was "extremely substantial." On the other, she seems to have told between 1 and 100 lies to government officials.