SAC Capital Advisors LP’s landmark $1.8 billion settlement of a U.S. government insider-trading probe stretching back to 2007 was approved by a federal judge, bringing to an end the hedge fund’s role as a money manager and capping a decade of insider-trading cases.
SAC Capital Advisors LP employees gathered in the hedge fund’s cafeteria on July 21, 2008, for a seminar by former Securities and Exchange Commission Chairman Harvey Pitt on compliance and how to prevent insider trading.
SAC Capital Advisors LP’s plea agreement to pay a $900 million penalty should be accepted, U.S. prosecutors told a judge as they seek the biggest criminal fine ever imposed for insider trading following a six-year probe of the firm.
An Experian Plc unit is the target of investigations by Illinois and Connecticut attorneys general for its role in the theft of social security numbers and other individual identifying data by a Vietnamese man who pleaded guilty to federal fraud charges in March.
General Motors Co. Chief Executive Officer Mary Barra fielded pointed questions and accusations from U.S. senators, with one saying GM had a “culture of coverup” and another predicting it may face criminal liability.