Four senior executives at Steven Cohen’s SAC Capital Advisors LP received subpoenas as part of the U.S. multiyear probe into insider trading at the hedge fund firm, a person with knowledge of the matter said.
After five years under investigation for insider trading, Steven Cohen is considering proposing a deal to prosecutors that would shut his $15 billion hedge-fund firm to outside investors, according to a person familiar with his thinking.
Cardiovascular Systems Inc., a medical-device maker that a news report said is part of a probe of corporate insider investment vehicles, said it got requests for information from the U.S. government and is complying.
Kareem Serageldin, the ex-global head of Credit Suisse Group AG’s CDO business charged in a bonus- boosting fraud tied to a $5.35 billion trading book, was surprised by the U.S. indictment since he has been cooperating with investigators for four years, his lawyer said.
Amazon.com Inc., the world’s biggest online retailer, and discount Internet seller Overstock.com Inc. lost a challenge to New York’s Internet sales tax law as the state’s highest court rejected their arguments that it was unconstitutional.