Ex-Diamondback Fund Manager Todd Newman Seeks Leniency
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Former Diamondback Capital Management LLC fund manager Todd Newman, facing sentencing May 2 for his role in a $72 million insider-trading scheme, asked for a lesser sentence than the 78-month maximum prison term sought by U.S. court officials.
Newman was convicted by a federal jury in Manhattan in December of one count of conspiracy to commit securities fraud and four counts of securities fraud for a scheme to trade on Dell Inc. and Nvidia Corp. using illicit tips provided by their analysts.