SAC Said to Give Investors Until June 3 for Redemptions
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Steven Cohen’s SAC Capital Advisors LP is giving clients more time to decide whether to pull money from the firm’s hedge funds amid a government investigation of insider trading, said a person familiar with the matter.
Investors have until June 3 to notify the Stamford, Connecticut-based firm if they want to withdraw at the end of the quarter, said the person, asking not to be identified because the information is private. The deadline had been mid-May. Jonathan Gasthalter, a spokesman for SAC at Sard Verbinnen & Co., declined to comment.