At 8 a.m. on Wednesday, an hour when Mr. Cohen is normally
at the center of SAC’s cavernous trading floor in Stamford, Conn., he sat in
his office to hold a hastily arranged conference call with his clients., according
to the NY Times report.
Wealthy investors dialing in from as far away as Europe and
Asia listened to soothing classical music before the call started. Then they
received some grim news: Federal securities regulators were preparing to file a
civil fraud lawsuit against the fund.
The move, which stems from a criminal insider trading
prosecution brought last week against a former SAC employee, is the most
significant action yet by the government in a long-running investigation of Mr.
Cohen, who has not been accused of any wrongdoing, and his firm….
http://www.cnbc.com/id/50005887
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