Even when he loses, the billionaire investor Steven A. Cohen manages to find a way to win.
A powerful incentive.
SAC Capital Advisors urged a federal judge to approve its record $1.8bn insider-trading settlement with the government, saying the firm is 'deeply remorseful' for the illegal acts of its employees.
Federal regulators on Thursday announced the latest case to stem from the decade-long insider trading investigation into SAC Capital Advisors, taking aim at a former employee for prompting a number of illegal trades.
Former SAC Capital Advisors fund manager Mathew Martoma was portrayed by his lawyer as the victim of a 'rush to judgement' by prosecutors looking to use him to bring insider-trading charges against his former boss, Steven A. Cohen.
SAC Capital Advisors, synonymous with an insider trading scandal that has consumed the hedge fund industry, will soon cease to exist as Wall Street has known it.
The judge in Mathew Martoma’s insider-trading trial warned his lawyers against questions tied to Steven Cohen’s trading strategies, saying it could open the case to a wider probe of the SAC Capital Advisors founder.
Former SAC Capital Advisors fund manager Mathew Martoma, on trial for insider trading, lost a bid to show jurors what founder Steven Cohen told regulators about the sale of Wyeth stock at the centre of the case - statements he argues exonerate him.
The hedge fund billionaire and trader Steven A. Cohen has bought and sold many things: stocks and bonds, modern art and sprawling real estate.
Billionaire investor Steven A. Cohen's SAC Capital Advisors is ending its life as a hedge fund with a 20.1% gain this year, marking one of the industry's best returns even after SAC pleaded guilty to insider trading charges, a source familiar with the numbers said.