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.
Steven Cohen, who agreed to close down his SAC Capital Advisors LP as part of a settlement with the U.S. government, will rename the firm and add a layer of management to oversee traders as the hedge fund becomes a family office, said a person familiar with the firm.
SAC Capital Advisors LP founder Steven Cohen told U.S. regulators a decision to sell shares at the heart of a $276 million dollar insider-trading case going to trial next month was based on advice from outside his firm.
Former SAC Capital Advisors LP fund manager Mathew Martoma was found guilty in the most lucrative insider-trading scheme ever as federal prosecutors racked up a seventh conviction in their six-year probe of the hedge fund and its billionaire founder, Steven A. Cohen.
Former SAC Capital Advisors LP fund manager Mathew Martoma, on trial for insider trading, lost a bid to show jurors what founder Steven Cohen told regulators about the sale of Wyeth stock at the center of the case -- statements he argues exonerate him.
SAC Capital Advisors LP boosted its holdings in industrial and technology companies in the fourth quarter, even as the hedge-fund firm is shutting its investment advisory business after pleading guilty to securities fraud.
When former SAC Capital Advisors LP fund manager Mathew Martoma presents his defense to insider- trading charges, how much he shares with jurors may be limited by what his lawyers called “toxic character evidence.”