Imperiled SAC Shifts To Plan B: Protecting Its Wallet
Law360, New York (July 26, 2013, 5:34 PM EDT) -- Faced with a prosecution reluctant to make a deal, SAC Capital Advisors LP can only hope to limit monetary damages by touting a much-maligned compliance culture and arguing certain profits can't be traced to insider trading, defense attorneys say.
The landmark case entered a new phase Friday, as SAC pled not guilty to a five-count indictment alleging the Stamford, Conn.-based hedge fund — among the largest and most successful in the world — fostered a business culture that abided and even rewarded employees' insider trading. Peter Nussbaum, SAC’s general counsel, entered the plea during a 15-minute conference before U.S. District Judge...
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