Manhattan U.S. Attorney Preet Bharara asked an administrative judge to stay the Securities and Exchange Commission’s action against billionaire Steven A. Cohen until related criminal cases against his hedge fund and two former employees are resolved.
In a document dated July 26, Bharara said the SEC enforcement staff doesn’t object to postponing the administrative proceeding, which it filed on July 19 alleging that Cohen failed to supervise two portfolio managers who now face criminal insider trading charges.
via Bharara Seeks Cohen Civil Case Stay Pending Criminal Outcome – Bloomberg.
