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Jon Horvath, an analyst at Sigma Capital Management, an affiliate of hedge fund SAC Capital Advisors in Manhattan, was arrested at his New York City home while Todd Newman, a hedge fund portfolio manager, was arrested in Needham, Mass. It was not immediately clear if a fourth man charged in the complaint, analyst Danny Kuo, was in custody. The illegal profits in the case were made after tips were shared among co-conspirators about upcoming earnings announcements regarding Dell and Nvidia Corp., according to court papers. Lawyers for the defendants could not immediately be reached for comment.
[Associated
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