SEC Targets Ex-SAC Analyst Over $3M Insider Trading

Law360, Los Angeles (March 13, 2014, 9:49 PM EDT) -- The U.S. Securities and Exchange Commission accused a former SAC Capital Advisors LP analyst of insider trading, alleging in New York federal court Thursday that he used the information to make trades in Dell Inc. and Foundry Networks Inc., netting a $3.2 million profit for SAC.

Ronald N. Dennis, a former analyst at SAC affiliate CR Intrinsic Investors LLC, was allegedly tipped off by two friends who worked as hedge fund analysts of potential moves in the two companies’ stocks, then prompted the hedge funds managed...
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