Richard Sullivan

Richard Sullivan News

  • SAC Record $1.8 Billion Insider Plea Caps 7-Year Probe

    SAC Capital Advisors LP’s landmark $1.8 billion settlement of a U.S. government insider-trading probe stretching back to 2007 was approved by a federal judge, bringing to an end the hedge fund’s role as a money manager and capping a decade of insider-trading cases.

  • SAC Capital Judge Urged to Accept $900 Million Penalty

    SAC Capital Advisors LP’s plea agreement to pay a $900 million penalty should be accepted, U.S. prosecutors told a judge as they seek the biggest criminal fine ever imposed for insider trading following a six-year probe of the firm.

  • ‘Remorseful’ SAC Urges Approval of Insider Trading Pact

    SAC Capital Advisors LP urged a federal judge to approve its record $1.8 billion insider-trading settlement with the government, saying the firm is “deeply remorseful” for the illegal acts of its employees.

  • Level Global Co-Founder Gets 6 1/2-Year Prison Sentence

    Level Global Investors LP co-founder Anthony Chiasson was sentenced to 6 1/2 years in prison for using illegal tips funneled to him from analysts and company insiders to make more than $68 million for his hedge fund.

  • SAC Manager Guilty as Insider Focus Turns to Martoma

    SAC Capital Advisors LP’s Michael Steinberg became the fund’s longest-serving manager to be convicted of insider trading in a U.S. victory that may increase pressure on his accused one-time colleague, Mathew Martoma, to cooperate in the probe of founder Steven A. Cohen.

  • SAC’s Steinberg Faints as Jury Prepares to Give Verdict

    SAC Capital Advisors LP fund manager Michael Steinberg had a “dizzy spell” as a jury in Manhattan federal court prepared to deliver its verdict in his insider trading case after only one day of deliberations.

  • Ex-Diamondback Manager Gets 4 1/2 Years in Insider Case

    Former Diamondback Capital Management LLC fund manager Todd Newman was sentenced to 4 1/2 years in prison for his role in an insider-trading scheme that used tips from technology company insiders to earn $72 million.

  • SAC Manager Prosecutors Win Right to Quiz Witness Motive

    U.S. prosecutors won the right to have the jury weighing insider trading charges against SAC Capital Advisors LP's Michael Steinberg hear that the key witness against him wasn’t just testifying against his former boss to save his own skin.

  • SAC’s Steinberg Indicted as Probe Gets Closer to Cohen

    SAC Capital Advisors LP fund manager Michael Steinberg was indicted by a federal grand jury on five counts of conspiracy and securities fraud as the U.S. government’s wide-ranging probe of insider trading at the $15 billion firm got one step closer to founder Steven A. Cohen.

  • Cohen Eludes U.S. as Latest Case Is Short on Evidence

    Looks can be deceiving when it comes to assessing the U.S. criminal investigation of SAC Capital Advisors LP founder Steven A. Cohen.

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