$600M Deal In SAC Insider Trading Case Questioned

Law360, New York (March 28, 2013, 2:38 PM EDT) -- Approval of a landmark $600 million settlement to end the U.S. Securities and Exchange Commission’s insider trading suit against SAC Capital Advisors LP could be hindered by the hedge fund’s unwillingness to admit wrongdoing, a New York federal judge indicated Thursday.

U.S. District Judge Victor Marrero said that before he gave the deal his approval, he might wait for an appeals court ruling on how much authority judges have to block SEC settlements in which a defendant does not admit it did anything wrong.

The SEC...
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