What Are the Odds That SAC’s Cohen Read His E-Mail?J.B. Heaton and Nicholas G. Polson
July 31 (Bloomberg) -- The Manhattan U.S. attorney has filed criminal charges against SAC Capital Advisors LP, and the Securities and Exchange Commission has brought an administrative action against the hedge fund’s founder and chairman, Steven A. Cohen. Both actions are based, in part, on allegations that Cohen read an e-mail warning him of soon-to-be announced disappointing earnings at Dell Inc. that allowed him to sell his position and avoid a $1.7 million loss.
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