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SAC Record $1.8 Billion Insider Plea Caps 7-Year Probe

SAC Capital Advisors LP’s landmark $1.8 billion settlement of a U.S. government insider-trading probe stretching back to 2007 was approved by a federal judge, bringing to an end the hedge fund’s role as a money manager and capping a decade of insider-trading cases.

SAC Capital, which this week changed its name to Point72 Asset Management LP, pleaded guilty to reaping hundreds of millions of dollars in illegal profits and fostering a culture of criminality that encouraged brazen insider trading by its employees.