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SAC Ex-Portfolio Managers Accused in Trading Probe

Noah Freeman and Donald Longueuil, former portfolio managers at SAC Capital Advisors LP, were accused of insider trading while working at the $12 billion hedge fund in the latest round of charges stemming from a nationwide crackdown by federal prosecutors.

The allegations mark the first time in the 16-month U.S. probe that insider trading has been publicly alleged to have occurred at SAC Capital. Other former employees of the firm, and hedge funds started by SAC alumni, have been tied to the probe.