SAC Said to Tell Clients It Received a Wells Notice From SEC
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 person asked not to be named because the fund is private.
To contact the reporter on this story: Katherine Burton in New York at kburton@bloomberg.net
To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net
Nov. 21 (Bloomberg) -- Douglas Burns, a former federal prosecutor, talks about the U.S. government insider-trading charges against Mathew Martoma, a former health-care portfolio manager at a unit of Steven A. Cohen’s SAC Capital Advisors. U.S. prosecutors allege that Martoma traded on inside tips about clinical trials of an Alzheimer’s drug and netted the firm as much as $276 million. Burns speaks with Pimm Fox and Stephanie Ruhle on Bloomberg Television's "Market Makers." Bloomberg’s Katherine Burton also speaks. (Source: Bloomberg)
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