Tuesday, April 16, 2013

Huge SAC Settlement OKed—With A Caveat

A federal judge has given provisional approval to SAC Capital Advisors' record $602 million insider-trading settlement. U.S. District Judge Victor Marrero yesterday assented to the Securities and Exchange Commission settlement. But Marrero, who last month postponed a decision on the deal, said SAC would not have to pay the money until a federal appeals court rules on whether district court judges can reject settlements in which defendants do not admit or deny wrongdoing…


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