SAC Can Keep Operating, But Must Maintain Asset Value

Law360, New York (August 9, 2013, 10:02 PM EDT) -- SAC Capital Advisors LP and prosecutors on Friday received a judge’s approval of a protective order allowing the investment firm to continue operations but requiring it to maintain most of its asset value while facing insider trading charges.

The deal is designed to preserve the bulk of SAC’s worth for a possible forfeiture if the government prevails in its case, while ensuring SAC can keep engaging in “otherwise lawful transactions.” SAC pled not guilty to insider trading charges in late July, as prosecutors previewed a case...
To view the full article, register now.