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Hedge Fund Managers Found Guilty of Insider Trading

Monday, 17 Dec 2012 | 5:48 PM ET
Rubberball | Getty Images

Two former hedge fund managers were convicted on Monday of illegal trading in Dell 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.

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