Judge OKs $602M SAC insider trading settlement

A New York judge on Tuesday approved a $602 million payment that would resolve insider trading allegations against SAC Capital Advisors — pending a ruling in another case that involves Citigroup and the SEC.

Judge Victor Marrero said the settlement payment is fair, but said he is “troubled” by the idea that CR Intrinsic Investors LLC, a fund affiliated with billionaire Steven Cohen’s SAC, and others could make a large payment to resolve the allegations without admitting or denying that they engaged in insider trading.

via Judge OKs $602M SAC insider trading settlement – WSJ