Investors Get Approval For SAC Insider Trading Suit – ValueWalk Premium
SAC Capital Advisors
15Aug

Investors Get Approval For SAC Insider Trading Suit

A federal judge refused to dismiss lawsuits by former Elan Corporation, plc (ADR) (NYSE:ELN) and Wyeth shareholders who claimed they lost money as Steven Cohen’s SAC Capital Advisors LP conducted insider trading in the drug makers’ stocks.

The judge also rejected dismissal requests by defendants Mathew Martoma, a former SAC portfolio manager who was found guilty of insider trading.
SAC's agreement to settle
As reported earlier, SAC Capital

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Author

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports

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