sac capital insider trading
Fund managers that invested with SAC must be quaking in their Guccis. Investors expected them to perform first-class due diligence before placing funds under Cohen's management. Yet serious questions have swirled around Cohen's trading practices for more than a decade.
Ted Wells, a lawyer representing SAC Capital, said he was "most concerned" with obtaining statements that former SAC Capital
CORRECTION: This article originally stated Preet Bharara is a U.S. attorney general instead of the U.S. attorney for the
Hedge fund titan Steven A. Cohen's firm, long the focus of a federal investigation into insider trading, is paying more than $600 million to U.S. securities regulators to settle allegations arising from improper trading in two stocks.
The settlement with the U.S. Securities and Exchange Commission announced Friday is one of the largest ever by a hedge fund
Federal authorities have not charged Cohen, whose net worth is estimated by Forbes at about $8.8 billion as of September
(Reporting by Maneesha Tiwari in Bangalore; Editing by Lisa Von Ahn) SAC, Johnson & Johnson, SEC and Cougar were not immediately