SAC Capital Indicted On Insider Trading Charges

Law360, New York (July 25, 2013, 10:05 AM EDT) -- Federal prosecutors on Thursday indicted Steven Cohen’s SAC Capital Advisors LP over allegedly pervasive insider trading at the prominent Connecticut hedge fund, an aggressive move that caps a multiyear investigation and places the firm’s future in doubt.

The indictment, handed down by a federal grand jury, seeks to hold SAC liable for alleged criminal securities fraud violations by employees between 1999 and 2010. The case is the boldest yet filed during Manhattan U.S. Attorney Preet Bharara’s five-year crackdown on insider trading. Stamford-based SAC is among the...
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