At a December hearing outside the jury’s presence during Chiasson and Newman’s trial, Sullivan read aloud an e-mail from Horvath to Steinberg that mentions “JT,” which prosecutors said was a reference to Jesse Tortora.
“P.S. Keep the Dell stuff, especially on the down low,” Horvath said in the e-mail, “because JT asked me specifically to be extra sensitive with this information.”
Apps told the judge that Steinberg took a short position in Dell stock, betting that it would drop, “in a matter of minutes” after receiving Horvath’s message.
“Why would you need to keep this on the ‘down low’ if this stuff is from investor relations?” Sullivan said, adding: “That doesn’t look good.”
The case is U.S. v. Steinberg, U.S. District Court, Southern District of New York (Manhattan).