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.
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.
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.
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.
Former SAC Capital Advisors LP fund manager Mathew Martoma was portrayed by his lawyer as the victim of a “rush to judgment” by prosecutors looking to use him to bring insider-trading charges against his former boss, Steven A. Cohen.
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.”
The judge in Mathew Martoma’s insider-trading trial warned his lawyers against questions tied to Steven Cohen’s trading strategies, saying it could open the case to a wider probe of the SAC Capital Advisors LP founder.
Former SAC Capital Advisors LP fund manager Mathew Martoma’s defense ended yesterday after his lawyers sought to convince jurors that the inside information he’s accused of trading on wasn’t actually secret.