• Home
  • About
  • ‘Enforcement 40’ for 2020
  • Webcasts
  • Enforcement Hall of Fame
  • Past Events
  • Contact
Securities Docket
  • Class Actions
  • Criminal
  • Events
  • Features
  • Global
  • People
  • SEC
Browse: Home / 2013 / July / 23 / A Towering Fine for Naught, as the S.E.C. Tracks Cohen – DealBook

A Towering Fine for Naught, as the S.E.C. Tracks Cohen – DealBook

By Securities Docket on July 23, 2013, 8:55 am

“We’re willing to pay $600 million because we have a business to run and don’t want this hanging over our heads with litigation that could last for years.” That’s what Steven A. Cohen’s lawyer told a judge just four months ago to justify why Mr. Cohen had agreed to pay $616 million to the Securities and Exchange Commission to settle civil accusations that his firm was involved in insider trading without admitting or denying guilt.

If that explanation sounded like a payoff — “buying off the U.S. government” is the way John Cassidy of The New Yorker put it at the time — that’s because, with hindsight, that’s what it was.

But it didn’t work.

via A Towering Fine for Naught, as the S.E.C. Tracks Cohen – DealBook

Posted in SEC | Tagged Insider Trading, SAC, Web Watch

« Previous Next »

Subscribe

‘Enforcement 40’ for 2020

The inside story behind the collapse of Queensland Nickel

Our Sponsors

Securities-Docket_260x125_14Sec

Join Us On LinkedIn

Join the Securities Litigation and Enforcement Group on LinkedIn

Archives

Copyright © 2023 Securities Docket.

  • Home
  • About
  • ‘Enforcement 40’ for 2020
  • Webcasts
  • Enforcement Hall of Fame
  • Contact
  • Criminal
  • Class Actions
  • Features
  • Global
  • People
  • SEC
  • Events