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SAC Is Said to Plan Investor Conference Call Tomorrow

SAC Capital Advisors LP, the $14 billion hedge fund run by Steven A. Cohen, plans to hold a conference call with clients tomorrow following the arrest last week of a former portfolio manager, according to investors who asked not to be named because the information is private.

SAC executives have already reached out to the firm’s largest investors to calm concern about Cohen’s trading in Elan Corp. and Wyeth LLC after prosecutors for the first time tied the hedge-fund founder to a specific transaction at the center of an insider-trading investigation. SAC told the clients that its compliance procedures are robust and that the firm is cooperating with the investigation.