Former SAC Capital Advisors fund manager Michael Steinberg asked the judge presiding over his insider-trading trial to question potential jurors about what he described as an 'intense media storm' surrounding his case.
Bloomberg News reports that in court papers filed this week in Manhattan, Steinberg also asked a federal judge to order prosecutors to disclose additional stocks, trades or co-conspirators they may include that weren’t described in the indictment.
Lawyers for Steinberg, who worked as a portfolio manager for SAC Capital’s Sigma Capital Management Ltd., said that many articles include 'the widespread suggestion' that SAC Capital founder Steven A. Cohen 'must have encouraged insider trading at SAC' and potential jurors should be questioned about their knowledge of news coverage of Cohen, Steinberg and SAC.
'The media’s intense focus on this information and its purported link to Mr. Cohen threatens to further prejudice Mr. Steinberg', his lawyers said in a memo. 'Potential jurors exposed to the reports of Mr. Cohen’s notoriety will be hard-pressed to ignore the media’s characterizations of Mr. Cohen and his connection to Mr. Steinberg in evaluating the significance of this aspect of the government’s proof'.
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