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SAC’s Cohen Said to Be Deposed in SEC Trading Probe

Steven A. Cohen, the billionaire founder of hedge fund SAC Capital Advisors LP, is facing renewed scrutiny from U.S. regulators over whether he illegally bought and sold stocks using inside information, two people familiar with the matter said.

Cohen, 56, was recently deposed by Securities and Exchange Commission investigators in New York about trades made close to news such as mergers and earnings that generated profits for his fund, said one of the people, who asked not to be identified because the investigation isn’t public. Neither Cohen nor Stamford, Connecticut-based SAC Capital, which oversees about $14 billion, has been accused of wrongdoing.