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Rating:An Ex-Neuberger Analyst Testifies Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, December 13, 2013

An Ex-Neuberger Analyst Testifies

News summary by MFWire's editors

A former Neuberger Berman analyst testified yesterday in one of the insider trading cases encircling billionaire Steven Cohen's SAC Capital Advisors.

In January 2012 Sandeep Goyal left Neuberger and pled guilty in a $78-million insider trading case involving information about Dell and Nvidia. The SEC accused Goyal of receiving $175,000 for passing along inside information on Dell. Neuberger was not accused of any wrongdoing in the probe. Yesterday, Bloomberg and Reuters report, Goyal testified in federal court in New York City that he passed inside Dell information to ex-Diamondback Capital Management analyst Jesse Tortora, tips that prosecutors say were passed along to SAC PM Michael Steinberg.

Goyal said he got the inside information on Dell thanks to an acquaintance from business school who worked at Dell.

"He wanted to work in the investment management industry," Goyal reportedly testified. "I helped him with his resume and gave him interview tips and gave him feedback on people he was interviewing with." 

Edited by: Neil Anderson, Managing Editor


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