Stewart Jury Ends Week Without Verdict After Signaling Deadlock

Updated on
  • Ex-Perella banker Stewart accused of tipping his father
  • Federal jury in New York ends fourth day of deliberations

A jury considering insider-trading charges against a former Perella Weinberg Partners LP banker ended a fourth day of deliberations without a verdict after signaling that it’s deadlocked on at least one count.

The panel asked the judge for assistance in the event "the jury is at an impasse on a particular charge.”

“Do we continue to deliberate until we come up with a unanimous decision, which may not likely happen,” the jurors asked in a note Friday.

U.S. District Judge Laura Taylor Swain in Manhattan told the panel of eight women and four men that they should strive to reach consensus but if they can’t then not to enter a verdict on the particular count.

Sean Stewart, 35, is charged with nine counts, including conspiracy to commit wire fraud and securities fraud, for allegedly tipping his father to pending mergers. Stewart, who testified in his own defense, said he was betrayed by his father, who lied to him about trading off the insider information.

Deliberations in the case are scheduled to resume on Tuesday.

The case is U.S. v. Stewart, 15-cr-00287, U.S. District Court, Southern District of New York (Manhattan).