SAC's Cohen Traded on Dell Tip: SEC

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July 19 (Bloomberg) -- Dominic Chu reports on further SEC allegations against SAC's Steven A. Cohen on Bloomberg Television's "Street Smart." (Source: Bloomberg)

Let us get straight to dominic in the newsroom.

Has to do with the steven cohen suit brought by the security exchange commission.

This is in regard to the dell trades that were in question.

What the as easy a ledge is -- the sec alleges steven cohen did wrong is an analyst at sigma capital, they say in their overall list of charges or accusations against steven cohen, that in august of 2008, this man, the former analyst at sigma capital, received a material nonpublic information from dell.

Another portfolio manager in an e-mail said that he thought the gross profit margins were going to come in below analyst estimates.

The complaint then goes on to say the e-mail was for ted to steven cohen -- was forwarded to steven cohen.

They say he then began selling his entire long position.

He failed to take responsible steps.

This is with regard to the dell trade in question.

Whether he got material inside from a research analyst who got it in direct the from an insider.

That brings more color , more in terms of the substance to what the sec is looking at with regard to its suit against

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