{"id":5534,"date":"2013-10-31T00:00:00","date_gmt":"2013-10-31T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2013\/10\/sac_capital_advisors_lp_expect"},"modified":"2022-05-04T14:46:19","modified_gmt":"2022-05-04T19:46:19","slug":"sac-capital-advisors-lp-expect","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sac-capital-advisors-lp-expect\/","title":{"rendered":"SAC Capital Advisors LP Expected to Plead Guilty to Insider Trading Criminal Charges"},"content":{"rendered":"\n

According to The Wall Street Journal<\/em>, hedge fund SAC Capital Advisors is expected to plead guilty to criminal charges involving securities fraud <\/a>allegations as early as next week. The multibillion-dollar hedge fund is owned by billionaire Stephen Cohen. <\/p>\n

Sources told the WSJ <\/em>that SAC will plead guilty as part of a settlement to resolve insider trading allegations made by federal prosecutors. Also, Cohen is expected to agree to stop managing money outside the fund and pay about $1.2 billion in government penalties\u2014the largest penalty ever for insider trading.<\/p>\n

Meantime, SAC and Cohen are still in the middle of hashing out the securities case filed by the Securities and Exchange Commission. That civil lawsuit also seeks a ban against Cohen from managing outside funds because he allegedly disregarded signs that insider trading was taking place at his firm. They say he inadequately supervised employees, allowing the fraud to happen.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

According to The Wall Street Journal, hedge fund SAC Capital Advisors is expected to plead guilty to criminal charges involving securities fraud allegations as early as next week. The multibillion-dollar hedge fund is owned by billionaire Stephen Cohen. Sources told the WSJ that SAC will plead guilty as part of a settlement to resolve insider […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3748,3811],"tags":[2630],"class_list":["post-5534","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-hedge-funds","category-insider-trading","tag-sac-capital-advisors"],"yoast_head":"\nSAC Capital Advisors LP Expected to Plead Guilty to Insider Trading Criminal Charges — Investor Lawyers Blog — October 31, 2013<\/title>\n<meta name=\"description\" content=\"According to The Wall Street Journal, hedge fund SAC Capital Advisors is expected to plead guilty to criminal charges involving securities fraud — October 31, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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