Steven A. Cohen is changing the name of his SAC Capital Advisors LP to Point72 Asset Management as the hedge-fund firm stops managing client money to settle U.S. allegations of insider-trading charges.
Former SAC Capital Advisors LP fund manager Mathew Martoma asked a judge to throw out his conviction in the most lucrative insider-trading scheme ever, saying prosecutors failed to make a case against him.
SAC Capital Advisors LP returned almost all investor money as of the end of January and has shrunk its headcount to 850 people from 1,000, as the firm focuses on managing the private wealth of founder Steven Cohen.
JPMorgan Chase & Co. and Goldman Sachs Group Inc. were among 18 financial firms that agreed to stop participating in some surveys of analyst sentiment while New York investigates early access to the information.
The U.S. Securities and Exchange Commission won an appeals court ruling that may allow it to collect illegal proceeds from money managers who engage in insider trading even when their firms got all the profit.