SAC Indictment Would Put Feds In Uncharted Waters

Law360, New York (May 20, 2013, 10:09 PM EDT) -- As rumors swirled Monday that prosecutors might indict Steven Cohen's SAC Capital Advisors LLP, defense attorneys called the move highly unusual for an insider trading case focused on individual wrongdoing.

The U.S. Department of Justice is considering criminal charges against the Stamford, Conn.-based hedge fund and has issued grand jury subpoenas to Cohen and other SAC employees, The Wall Street Journal reported, citing people familiar with the case. Representatives for SAC and Manhattan U.S. Attorney Preet Bharara declined to comment.

Several current and former SAC employees...
To view the full article, register now.