According to the good people at BI this afternoon, hedge
Fund SAC Capital held its second conference call since a subsidiary hedge
fund's manager, Mathew Martoma, was charged in the largest insider trading case
in history. The call was short, less than half an hour, but CNBC's Kate
Kelly gave the low down on what happened:
SAC Founder Steve Cohen has not been charged with any
wrongdoing.
That said, if SAC is liable for anything monetarily,
investors will not have to pay anything out. The hedge fund has set things up
so that Cohen will take the financial hit.
Cohen has been meeting individually with portfolio managers
to make sure everyone is on the same page.
Read more:
http://www.businessinsider.com/sac-capitals-2nd-conference-call-2012-11#ixzz2Dgo9pnXA
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