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Ganek Is Said to Have Been on Insider Trading Call, NYT Says

Level Global Investors LP founder David Ganek participated in a 2008 employee telephone conversation about confidential information concerning Dell Inc.’s earnings announcements, the New York Times reported, citing an unidentified source.

Ganek was on the call with Level Global co-founder Anthony Chiasson and two of the hedge fund’s analysts, according to the New York Times. Details of the call are explained in prosecutor’s January complaint which referred to Ganek as “Individual 4,” the Times reported, citing a person briefed on the case.

Ganek’s alleged participation in the call was first reported by the Financial Times, which also cited unidentified sources. The New York Times reported that Ganek hasn’t been accused of wrongdoing, and that there is no indication he knew the information about Dell was illegal. The government’s case claims Level Global made more than $50 million from the insider trading, according to the Times.

John Carroll, Ganek’s lawyer, didn’t immediately return a voice mail from Bloomberg News left after regular business hours seeking comment. Ellen Davis, a spokeswoman for U.S. Attorney Preet Bharara in Manhattan, declined to comment.

Davidson Goldin, a spokesman for Level Global, declined to comment.

Assistant U.S. Attorney Antonia Apps told U.S. District Judge Richard Sullivan at an April 13 conference that the U.S. didn’t intend to file any new indictment in Chiasson’s case or add any new defendants.

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