New Word of Insider Tips at SAC Capital
Steven Cohen’s SAC Capital Advisors, one of the biggest and most successful hedge funds, has landed repeatedly in the crosshairs of the federal crackdown on insider trading. Cohen was deposed by the U.S. Securities and Exchange Commission earlier this year about whether he illegally bought and sold stocks using inside information, two people familiar with the matter said in June. U.S. prosecutors said last year they were looking at trading accounts at SAC, including one run by Cohen that draws on the best ideas from the firm’s portfolio managers and analysts.
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