Feds Back SAC's Cohen Into Corner With $1.2B Plea Deal

Law360, New York (November 4, 2013, 9:09 PM EST) -- SAC Capital Advisors LP’s landmark $1.2 billion insider trading settlement and guilty plea on Monday could haunt hedge fund owner Steven A. Cohen, undercutting his legal defenses in a criminal investigation and a civil case alleging he failed to properly supervise traders, attorneys say.

Prosecutors said SAC would plead guilty to all five counts of securities fraud and wire fraud detailed in a July 25 indictment. The Stamford, Conn.-based hedge fund has also agreed to shutter its investment advisory business, meaning it can no longer manage...
To view the full article, register now.
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.