Steve Cohen’s looming confrontation with federal prosecutors
isn’t sitting well with his investors, according to a NY Post report. His $15 billion hedge fund giant, SAC Capital, is expected to be hit
with another round of withdrawals after prosecutors issued a flurry of
subpoenas to force Cohen and other execs to testify in the government’s
long-running investigation of the firm.
“We don’t need the headline risk,” said one SAC investor who
is on track to fully redeem his funds from SAC by the end of the year. “If we
could pull out faster, we would,” said this person.
Adding to investor agita, SAC disclosed last week that it is
no longer planning to fully cooperate with the government’s probe or give
investors updates on the investigation….
Wait....wait...there's more at http://www.nypost.com/p/news/business/flee_circus_at_sac_LvEjNbfpav82AqWNwvrFgI
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