Business | Nation

Hedge Fund To Pay More Than $600 Million In Insider Trading Settlement

NPR | March 15, 2013 2:39 p.m.

Contributed By:

Dan Bobkoff

The Securities and Exchange Commission said it has obtained the largest settlement ever in an insider trading case. Two affiliates of the hedge fund SAC Capital Advisors have agreed to pay $614 million to settle charges of participating in insider trading schemes. The SEC alleged that a portfolio manager at one of the firms obtained confidential details about an Alzheimer’s drug trial from a doctor who was presenting final results to the public.

Comments

blog comments powered by Disqus
Thanks to our Sponsors:
become a sponsor
Thanks to our Sponsors
become a sponsor