Attorneys for SAC Capital portfolio manager Michael Steinberg, charged with insider trading in the Southern District of New York, have asked the court to institute certain remedial measures to guard against improper juror prejudice they say is likely to result from the intense media coverage of Steinberg’s prosecution and of alleged insider trading in general at SAC. Steinberg’s lawyers cite at least 931 original articles dating back to September 2012 that have reported on purported illegal trading at SAC, as well as at least 203 mentioning Steinberg. Those articles are in addition to numerous television and radio broadcasts, tweets, and other online media reports that the lawyers claim could interfere with potential jurors’ ability to deliver an impartial verdict in Steinberg’s trial, which is set to start on November 18, 2013.
Claiming that the coverage has been not only ubiquitous but also inflammatory, Steinberg’s lawyers quote from articles describing SAC as a “nest of illegal insider trading” where “illegal activity . . . has been pervasive” and where at least nine current or former employees have been "linked to illegal trades.” Articles have also claimed that “extraordinary profits" at SAC "have always been somewhat of a market mystery.” In addition, Steinberg's counsel cite extensive press about the goverment's multi-year investigation of SAC founder Steven Cohen and the portrayal of Steinberg as key to any prosecution of his boss, as well as the publication of emails and reported witness statements that are expected to be introduced as evidence in the case against Steinberg. Exposure to such publicity, they argue, poses a real risk to juror impartiality. To address these problems, Steinberg’s lawyers want prospective jurors to fill out a questionnaire prior to appearing for jury selection and have asked the court for permission to question individual jurors, as necessary, to expose any undue bias. They also leave open the possibility that further press coverage may require them to request additional remedial measures closer to trial.
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