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SAC Capital’s Michael Steinberg Said to Be Put on Leave

SAC Capital Advisors LP, the hedge fund run by Steven A. Cohen, put portfolio manager Michael Steinberg on leave after he emerged as an unindicted co-conspirator in a $62 million insider-trading scheme, according to two people familiar with the matter.

Steinberg, 40, was put on leave last week, said the people, who asked not be be named because the information is private. He has worked at SAC Capital, which oversees $14 billion, since 1997.