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...
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.