SAC Capital Michael Steinberg
SAC Capital's Michael Steinberg Implicated in Probe
One of the big questions in the unfolding "expert network" insider trading scandal is whether SAC Capital is a target. The mighty hedge fund firm run by the feared Steve Cohen has said it doesn't think the investigative activity to date suggests it is a specific target. But that's an assumption. Some people are convinced the firm is in fact a prime target; it would certainly be a massive catch for prosecutors.
The Wall Street Journal added wrinkle by reporting that Michael Steinberg, a technology-fund manager at SAC division Sigma Capital Management, may be in the cross hairs. When John Kinnucan was pressured to wear a wire, he was apparently asked specifically to tape conversations with Steinberg.