SAC Pleads Not Guilty To Insider Trading

Law360, New York (July 26, 2013, 12:02 PM EDT) -- SAC Capital Advisors LP pled not guilty Friday to insider trader charges, as prosecutors previewed a case against the Steven Cohen-helmed hedge fund that they say will be based on testimony from ex-employees and wiretaps.

Peter Nussbaum, SAC’s general counsel, entered pleas on behalf of four SAC-related entities at a morning arraignment before U.S. District Judge Laura Taylor Swain. The government on Thursday unsealed charges of wire and securities fraud against SAC, the latest thrust in a prosecutorial campaign that has already seen two of the fund’s...
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