Billionaire Steven A. Cohen and his former hedge fund SAC Capital Advisors agreed to a $135 million class-action settlement Wednesday, bringing legal costs tied to SAC-related insider-trading cases close to $2 billion.
The new amount will be paid to investors in Elan Corp., now a part of Perrigo Co. Elan played a part in a case involving a former employee, Mathew Martoma, who was in 2014 sentenced to nine years in prison for trading on inside tips in Elan and other stocks while at SAC.
‘Enforcement 40’ for 2020
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