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"The Department of Justice Thursday unsealed an indictment of the big hedge fund as AC capital advisors alleging systematic insider trading it for. Here's one example according to the indictment. SEC research analyst John were about to learn from a contact that Dell's earnings would miss expectations. Contact got that information from someone that dealt. Or best pass that information -- portfolio manager Michael Steinberg Steinberg began shorting shares of Dell. On August 26 Steinberg emailed Horvath at 12:37 PM saying he discussed dealt with the person the indictment identifies as the SEC owner. Stephen Cohen who owns the firm. The email also said Colin wanted to -- to compare notes with another SEC portfolio manager who was bullish on Dell's upcoming earnings. At 109 PM or -- wrote to Steinberg and the portfolio managers seeing. I have secondhand read from someone at the company. This is third quarter I've got this read from them and it has been very good in the last two quarters these keep to yourself this is obviously not well known. For Beth went on to say that Dell's profit margins would fall short. The portfolio manager reported -- email to a research trader at SEC who focused on tech stocks. At 1:29 PM the trader in turn forwarded or Betsy -- to -- Cohen's attorneys say he didn't see emails about to go they also say he's acted properly. He wasn't charged in the case but does face -- SEC action. At 1:37 PM there research trader and Cohen spoke on the phone for approximately one minute. At 1:39 PM Cohen began to sell his shares in jail closing out at twelve and half million dollar position and avoiding one point seven million dollars in losses. Two days later after Dell's earnings came out below market expectations. Cohen -- emailed to -- -- Steinberg's -- seeing. Nice job on Dell's."^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.reuters.com/video/2013/07/25/reuters-tv-inside-sacs-dell-trade?videoId=244419298&videoChannel=117772>