Authorities are investigating whether Steve Cohen’s SAC
Capital Advisors may have profited from insider tips on the popular diet
company Weight Watchers, according to the NY Post. Government officials are investigating the
$14 billion firm’s trading in Weight Watchers in early 2011, the report said.
During the period under investigation, the diet company’s
stock price nearly doubled, the report by Reuters claimed. Regulatory filings shows SAC owned 2.1
million shares of Weight Watchers as of March 31, 2011. The stock hit a peak of
$85.25 two months later. It had been trading at $38 a share at the start of the
year….
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