Steven A. Cohen News
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Shahraab Ahmad, a credit trader at Hutchin Hill Capital LP who joined the firm at its 2008 inception, is leaving and has mostly completed liquidating his $150 million book.
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Even after SAC Capital Advisors LP received billions of dollars in withdrawal requests this week, founder Steven A. Cohen isn’t about to give up managing other people’s money.
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Former SAC Capital Advisors LP portfolio manager Mathew Martoma is scheduled to go on trial Nov. 4 on charges he helped the hedge fund founded by Steven A. Cohen make $276 million using illegal tips about a drug to treat Alzheimer’s disease.
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The U.S. Securities and Exchange Commission will seek comment on a proposal that would impose a floating-share value on the riskiest money-market mutual funds or allow them to suspend redemptions in times of stress.
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Steven A. Cohen’s SAC Capital Advisors LP told employees it plans to stay open for outside investors after significant client redemptions, according to two people with knowledge of the matter.
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James Tisch, who invests in hedge funds to boost returns at Loews Corp., said he avoids managers with the largest pools of money and sleeps better at night knowing he doesn’t face the same prospect of client withdrawals.
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Insurer Fairfax Financial Holdings Ltd. asked a New Jersey appeals court to reinstate its lawsuit against Steven A. Cohen’s SAC Capital Advisors LP claiming a campaign of false negative information.
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New York Times columnist James Stewart had an excellent piece on Saturday about Mathew Martoma, the former portfolio manager at SAC Capital Advisors charged with insider trading.
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Steven A. Cohen may be left with less than $1 billion from outside investors, down from $6 billion at the start of the year, after today’s deadline for withdrawals from his SAC Capital Advisors LP, according to four people with knowledge of the situation.
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Level Global Investors LP was ordered to pay more than $21.5 million for illicit profit the fund earned from the insider trading of its co-founder, Anthony Chiasson, who was convicted at a trial in New York.
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