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SAC Settles Insider Trading Cases For $614 Million

Friday, March 15, 2013 - 2:32 PM
From The NewYorkTimes:
Two affiliates of SAC Capital, the giant hedge fund, settled insider trading charges with the Securities and Exchange Commission for $614 million on Friday, in what the agency was the biggest ever settlement for such cases.

The settlements spare SAC’s founder, the billionaire Steven A. Cohen, who hasn’t been charged with wrongdoing. Mr. Cohen, one of the most successful hedge fund managers in the world, has long been considered a target of federal investigators.

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If the fines are proportional to the amount of profit reaped from insider trading, it must be an eye-popping figure - and yet the fines are apparently not sufficient to deter the malfeasance. 
pearlbrownpearlbrown1,472 posts since
Nov 2, 2010
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