Three-and-a-half years in federal prison isn’t exactly a slap on the wrist. Still, with prosecutors gunning to put convicted insider trader Michael Steinberg behind bars for nearly twice that long, Steinberg’s sentencing on Friday could have gone much worse.
Now the former SAC Capital Advisors portfolio manager waits to see if his lawyer—and possibly a pending appeal in a related insider trading case—can help him win a new trial.
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