SAC Hedge Fund Manager Steinberg’s Sentencing Hearing Begins

May 16, 2014 11:46 am ET

May 16 (Bloomberg) -- Michael Steinberg, the longest- serving SAC Capital Advisors LP hedge fund manager to be convicted of insider trading, appeared before a judge in New York today to learn his sentence. The hearing has begun in Manhattan federal court with Steinberg facing as long as 6 1/2 years in prison.