$1.2B SAC Insider Trading Deal Gets Past 1st Judge

Law360, New York (November 6, 2013, 1:26 PM EST) -- A federal judge on Wednesday approved part of a record-high $1.2 billion insider trading settlement between hedge fund SAC Capital Advisors LP and prosecutors, noting his role was largely "window dressing."

U.S. District Judge Richard J. Sullivan said he would not hold up the government's civil forfeiture deal with SAC, a fund controlled by billionaire Steven A. Cohen that allegedly became a hotbed of insider trading.

SAC agreed Monday to settle federal prosecutors' insider trading cases against it by paying a $900 million criminal fine and $900...
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