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...
To view the full article, register now.

Related

Sections

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

Law Firms

Companies

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.