SAC To Scale Back Cooperation With Insider Trading Probe

Law360, New York (May 17, 2013, 8:51 PM EDT) -- SAC Capital Advisors LLC reportedly informed its investors Friday that it was reducing its cooperation with U.S. government investigators looking into allegations of insider trading at the fund.

While the firm said in the letter that it had cooperated with the government up until now, its cooperation is no longer unconditional, according to The New York Times, and the firm said it would not be updating investors about the investigation in order to protect confidential information.

The insider trading allegations at the hedge fund run by...
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