SAC Capital Advisors LP money manager Michael Steinberg lost a bid to delay his insider- trading case, leaving him to face a jury next week in the first of two upcoming trials tied to the hedge fund run by Steven A. Cohen.
J.C. Penney Co. investors Glenview Capital Management LLC and Hayman Capital Management LP cut their stakes in the retailer by a combined 13.4 million shares as the stock plunged amid a share offering.
Billionaire Steven A. Cohen’s SAC Capital Advisors LP, the hedge fund accused of fostering a culture of rampant insider trading, has agreed to plead guilty Nov. 8 to securities fraud and wire fraud, pay a record $1.8 billion and shutter its investment advisory business.
They start showing up at the St. John’s Well Child and Family Center in Los Angeles at 5 a.m. By the time the doors open at 8 a.m., as many as 60 patients are queued up in a line that stretches down the street.
SAC Capital Advisors LP will plead guilty to securities fraud as soon as today, the biggest hedge- fund firm to resolve charges in the U.S. government’s six-year crackdown on insider trading, according to a person familiar with the matter.