From Bloomberg: SAC Capital Advisors LP, the hedge fund run by billionaire Steven A. Cohen, will pay a record $616 million to settle U.S. regulatory claims that two of its units engaged in insider trading.
Settlement of the civil allegations against the units
doesn’t preclude the Securities and Exchange Commission from pursuing Cohen
himself in the future, George Canellos, the agency’s acting enforcement
director, said on a conference call with reporters today. The investigation by
the SEC continues, as does the criminal case against former SAC portfolio
manager Mathew Martoma....
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