SAC Civil Forfeiture Action Stayed By Judge

Law360, New York (September 4, 2013, 5:48 PM EDT) -- A federal judge on Wednesday agreed to delay a civil forfeiture action against hedge fund firm SAC Capital Advisors LP, which has been accused of insider trading, while prosecutors pursue a criminal case against it.

U.S. District Judge Richard Sullivan said he would grant a government request to delay the civil action while the criminal cases proceed. The judge met lawyers from the government and the fund at a conference in Manhattan federal court.

SAC, the eponymous firm of billionaire Steven A. Cohen, is accused of...
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Case Information

Case Title

United States Of America v. S.A.C. Capital Advisors, L.P. et al


Case Number

1:13-cv-05182

Court

New York Southern

Nature of Suit

Forfeit/Penalty: Other

Judge

Richard J. Sullivan

Date Filed

July 25, 2013


Case Title

USA v. S.A.C. Capital Advisors, L.P. et al


Case Number

1:13-cr-00541

Court

New York Southern

Nature of Suit

Date Filed

July 23, 2013

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