SAC Capital Enters Not Guilty Plea on All Counts

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July 26 (Bloomberg) -- Bloomberg's Su Keenan reveals details on evidence in the government's case against SAC Capital as the company entered a not guilty on all counts. She speaks on Bloomberg Television's "Market Makers."

Well, first of all, it's somewhat unusual in that rather than being an arraignment, first appearance and conference for an individual, it is for an entity, a cooperation.

What you had was a team of lawyers, five lawyers, including martin flats, from s.a.c.'s general council -- counsel.

And they entered a formal plea of not guilty on behalf of all of the entities, units of s.a.c. to the five formal counts.

One count of wiretap fraud, four counts of securities fraud.

Now, what was interesting is that normally in a status conference, the government discusses the change of discovery or evidence.

It was revealed that the government has have a lume news to evidence, including authorized wiretaps and consensual phone calls.

The government also indicated it has statements from current around former s.a.c. employees.

The government will be exchanging that information.

In fact, the s.a.c. attorneys made clear they wanted all of the statements made by current and former s.a.c. employees.

Which would include those that are now cooperating with witnesses of the government.

A hearing was set for all parties to be back in court on september 24. was it tense inside the courtroom?

Can you give us color from inside?

Yeah, very cordial.

Again, this is a group of attorneys, very businesslike.

And very standard in that you have the judge, a harvard-educated clinton appointee, asking if the counsel for s.a.c. knew that they had a right to an attorney if they couldn't afford one.

That was not an issue.

If they knew they could remain silent which they're well aware.

What was interesting is this judge is also handling the may daff family criminal case that will take place in october and she pointed out that a u.r.l., a website, had been set up identify victims in this case and asked if that would be necessary with s.a.c. the government attorney pointed out that the victims in this case are the many companies whose private material information was stolen and traded upon, and that most of these companies know who they are, but that he will double check to make sure that all are indeed notified.

Thanks for the update.

On s.c.a. -- s.a.c. pleading not guilty to criminal charges.

This text has been automatically generated. It may not be 100% accurate.


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