Steven A. Cohen has received a subpoena to testify before a
grand jury in the government’s insider trading investigation into his hedge
fund, SAC Capital Advisors, a development that signals a newly aggressive phase
in the multiyear inquiry, according to lawyers and executives briefed on the
case.
Issued last week, the grand jury subpoena came as part of a
broader round of requests from criminal authorities. Other SAC executives were
also named in the subpoenas, the lawyers and executives said, and the fund
itself received requests for information about its activities. The subpoenas
suggested that federal prosecutors and the F.B.I. are intensifying their
efforts to build a case, not only against SAC executives, but also the fund
itself….
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