SAC Capital Advisors LP’s trading in InterMune Inc. (ITMN) in 2010 as well as trades in Weight Watchers International Inc. (WTW) last year are being investigated by the U.S., a person familiar with the matter said.
Bloomberg reports that the $14bn fund owned by Steven A. Cohen is under scrutiny by U.S. Securities and Exchange Commission and the Federal Bureau of Investigation, said the person, who asked not to be named because the matter wasn’t public.
Jonathan Gasthalter, a spokesman for SAC, said the firm was not aware of any investigation involving Weight Watchers. He declined to comment on the probe of InterMune trades.
Bloomberg also reports that a Level Global Investors LP co-founder and an SAC Capital Advisors fund manager were ruled to be co-conspirators in a scheme to swap illegal stock tips, clearing the way for prosecutors to introduce their e-mails at the insider-trading trial of two other men.
U.S. District Judge Richard Sullivan in Manhattan said last week that e-mails and instant messages involving David Ganek of Level Global and SAC Capital’s Michael Steinberg sufficiently showed that they may have known information they used for trades came from insiders.