SAC Capital Advisors LP, the hedge fund company founded by Steven A. Cohen, owes Elan Corp. shareholders at least $685.6 million as a result of alleged insider trades in the drugmaker’s stock, investors said in a lawsuit.
Evidence against Mathew Martoma, the former SAC Capital Advisors LP portfolio manager charged with insider trading, includes e-mails from SAC and third parties and trading records, federal prosecutors said.
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 Capital Advisors LP and Viking Global Investors LP are being questioned by Senator Charles Grassley in his review of a possible leak of a U.S. government decision on payment reimbursements to health insurers.
JPMorgan Chase & Co., Goldman Sachs Group Inc. and other U.S. swap dealers would gain limits on the Dodd-Frank Act’s reach for overseas trades under a Securities and Exchange Commission proposal released yesterday.
The federal judge presiding over the insider-trading prosecution of Michael Steinberg rejected a request from the lawyer for the SAC Capital Advisors LP fund manager that he recuse himself from the case.