Subscribe
‘Enforcement 40’ for 2020
Our Sponsors
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedInSAC’s Richard Lee admitted to insider trading. Then he cleared his name – SFChronicle.com
In his first interview since the case ended, Lee set out to explain why he would admit to insider trading he steadfastly denies took place. According to Lee and his lawyer, the former trader’s ordeal highlights what can happen when a busy investment professional is suddenly called to account for a handful of trades on […]
Ex-SAC Trader Lee Wins Insider-Case Dismissal After Plea (2)
A former trader at SAC Capital Advisors LP who admitted to making illegal insider trades, cooperated with the government, and later sought to withdraw his guilty plea has prevailed in his years-long fight to clear his name. Federal prosecutors on Thursday dismissed their case against Richard S. Lee, who was the center of a prosecution […]
SAC trader accused of insider trading claims Bharara got it wrong | New York Post
An ex-trader for billionaire Steve Cohen’s now-defunct hedge fund, who had flipped to cooperate with the feds in an insider-trading case, is now seeking to withdraw his 2013 guilty plea, claiming that former Manhattan US Attorney Bharara didn’t have the smoking-gun evidence against him that he claimed, court papers show. via SAC trader accused of […]
When the Feds Went After the Hedge-Fund Legend Steven A. Cohen – The New Yorker
Klotz pointed out that Cohen’s desk had seven monitors on it. His Microsoft Outlook messages appeared on the far-left one, behind multiple other screens, further increasing the likelihood that he never saw the Dell message. He would have had to “turn to the far left of his seven screens, minimize one or two computer programs, […]
Steven Cohen, SAC Reach $135 Million Insider-Trading Settlement – WSJ
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 […]
SEC Settles for Two-Year Bar in Steve Cohen ‘Failure to Supervise’ Case | Compliance Week
The SEC announced today that it has settled its high-profile lawsuit against hedge fund manager Steven A. Cohen, founder of SAC Capital. Under the Order resolving the case, Cohen will be prohibited from supervising funds that manage outside money until 2018. via SEC Settles for Two-Year Bar in Steve Cohen ‘Failure to Supervise’ Case | […]
Steven Cohen Preparing Latest Constitutional Challenge to SEC’s APs | Compliance Week
The next constitutional challenge to the SEC’s administrative proceedings process may be the most high-profile one to date. Lawyers for Steven A. Cohen confirmed that the SAC Capital founder intends to mount such a challenge if ongoing settlement talks are not successful. via Steven Cohen Preparing Latest Constitutional Challenge to SEC’s APs | Compliance Week
Will shift in insider trading spell a comeback for Steve Cohen? – Chicago Tribune
If Martoma prevails, the SEC’s already weakened stance against Cohen would get even weaker. Much is at stake for the billionaire: financial penalties, of course, and more important, a possible lengthy ban from the industry. For now, Cohen has retreated from managing outside money after SAC was shut down in a plea deal with the […]
Steven Cohen’s ex-wife can ask about insider trading: Judge — Reuters
Billionaire Steven A. Cohen can face questions about insider trading at his hedge fund SAC Capital Advisors from lawyers representing his ex-wife in a civil lawsuit against him, a U.S. judge said on Monday. via Steven Cohen’s ex-wife can ask about insider trading: Judge — Reuters
Despite Commissioners’ ‘Dissent’ in WSJ, SEC Argues For Fair Fund in SAC Case | Compliance Week
Despite a public “dissent” by two Commissioners’ in a WSJ op-ed, the SEC argued in court filing today that a Fair Fund in the SAC Capital case would be feasible and would not be diminished by attorneys’ fees. via Despite Commissioners’ ‘Dissent’ in WSJ, SEC Argues For Fair Fund in SAC CAse | Compliance Week