SAC Capital Advisors LP and its founder, Steven A. Cohen, were sued by a group of Elan Corp. (ELN) investors who claimed losses as a result of alleged illegal insider trading by SAC in the drugmaker’s stock.
Six investors who held American depositary receipts in Dublin-based Elan sued in Manhattan federal court Dec. 21. They are seeking to represent a class of investors who bought Elan ADRs or traded in options from July 21 to July 29, 2008.
‘Enforcement 40’ for 2020
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