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SAC Capital Fund Manager Said to Be Uncharged Conspirator

A hedge fund manager at Steven Cohen’s SAC Capital Advisors LP is an unindicted co-conspirator in a $62 million insider trading scheme tied to technology stocks, two people familiar with the matter said.

The role allegedly played by Michael Steinberg emerged in court papers filed by the U.S. in the securities-fraud case of Jon Horvath, a former technology analyst at Cohen’s $14 billion hedge fund who Steinberg supervised. Steinberg, who hasn’t been charged with a crime, is the fifth person to be tied to insider trading while employed at SAC.