SEC Sets The Bar Low In Suit Against SAC Boss Cohen

Law360, New York (July 19, 2013, 7:36 PM ET) -- Under intense pressure to sue SAC Capital Advisors LP owner Steven A. Cohen for insider trading, the U.S. Securities and Exchange Commission on Friday chose the path of least resistance: an administrative case that doesn’t allege Cohen actually committed fraud.

The SEC’s 17-page filing ended months of speculation over whether the agency would take action against Cohen as part of a sprawling investigation into allegedly suspicious trading at Stamford, Conn.-based SAC. The SEC has already struck a $600 million settlement with the firm, which neither admitted...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required