Old testimony may bite Cohen in SEC case. The Post writes that Steve Cohen’s sworn
testimony in another legal skirmish could come back to haunt his $14 billion
hedge-fund empire.
Cohen, whose SAC Capital Advisors is facing civil charges
amid allegations of insider trading, testified last year that insider-trading
laws are “vague” and that compliance rules at his firm are merely “guidelines.”
Legal experts said those insights may be used against SAC in
its current skirmish with regulators. Last week, SAC disclosed that the
Securities and Exchange Commission may sue it for alleged fraud and lax
oversight of a former trader who was arrested and charged with insider trading.
Cohen has not been charged with wrongdoing, but…..
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