SAC Capital's $600M Deal Passes, But Heat's On 2nd Circ.

Law360, New York (April 16, 2013, 3:05 PM EDT) -- A New York federal judge on Tuesday approved the U.S. Securities and Exchange Commission’s $600 million insider trading settlement with SAC Capital Advisors LLC — but conditioned the deal on the outcome of a Second Circuit case over the agency’s policy of allowing defendants to neither admit nor deny wrongdoing.

U.S. District Judge Victor Marrero, who initially refused to approve the settlement over concerns about the no-admit, no-deny policy, granted the SEC’s March 15 motion for final judgment. However, the judge said his ruling could change...
To view the full article, register now.