US attorney: SAC to pay $1.8bn for insider trading

GMT 15:47 2013 Monday ,04 November

Arab Today, arab today US attorney: SAC to pay $1.8bn for insider trading

Arab Today

Giant hedge fund SAC Capital has agreed to plead guilty to insider trading charges and pay $1.8 billion to settle them, the US Attorney's office announced Monday. SAC, run by multi-billionaire Steven A. Cohen, also agreed to give up its investment advisory business altogether, the US Attorney said in a statement on Twitter.

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