The U.S. Securities and Exchange Commission told SAC Capital Advisors LP that it is considering suing the $14 billion hedge fund run by Steven Cohen for fraud involving alleged insider trading by a former portfolio manager who was arrested last week, according to three people with knowledge of the matter.
Moody’s Corp. fell 6.8 percent to its lowest price since October after saying it may be sued by the U.S. Securities and Exchange Commission for filing false and misleading descriptions of its credit-rating policies.
M&T Bank Corp. had a curious disclosure in its quarterly report today: It said the Securities and Exchange Commission issued a so-called Wells notice on Aug. 5 to its Wilmington Trust unit, saying that the agency may file a lawsuit.
SAC Capital Advisors LP, the $14 billion hedge fund run by Steven A. Cohen, is under increasing government scrutiny as the U.S. investigates its trading in InterMune Inc. and Weight Watchers International Inc., according to a person with knowledge of the matter.
SAC Capital Advisors LP, the $14 billion hedge fund run by Steven Cohen, told clients on a conference call today that it received a Wells Notice from the U.S. Securities and Exchange Commission, according to a person who listened to the call.
The U.S. Supreme Court agreed to take up a multibillion-dollar fight between the drug industry and federal antitrust enforcers, a case that may determine how quickly low-price generic medicines reach the market.