Two former hedge fund managers found guilty of insider trading

Published December 17, 2012

| Reuters

Two former hedge fund managers were convicted on Monday of illegal trading in Dell Inc stock based on secret information supplied by research analysts, the latest in a string of Wall Street insider-trading convictions.

A federal jury in Manhattan found Todd Newman, a former portfolio manager at Diamondback Capital Management, and Anthony Chiasson, co-founder of Level Global Investors, guilty of securities fraud.