Elan Investors Say SAC Should Admit Insider Trading In Plea

Law360, New York (November 1, 2013, 6:58 PM EDT) -- SAC Capital Advisors LP should admit to insider trading in shares of Elan Corp. as part of an expected plea agreement with U.S. prosecutors, an attorney representing Elan investors in a related class action told a New York federal judge on Friday.

Ethan D. Wohl of Wohl & Fruchter LLP wrote a letter to U.S. District Judge Laura Taylor Swain, who is overseeing SAC’s criminal indictment, arguing in favor of a harsher settlement than the one reportedly under discussion. Under that deal, reported Wednesday by The...
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