SEC Sets The Bar Low In Suit Against SAC Boss Cohen

Law360, New York (July 19, 2013, 7:36 PM EDT) -- 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...
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