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Point72 Asset Management

April 11, 2014

A Manhattan Federal Court has approved SAC Capital’s $1.2 billion (€867 million) settlement for insider trading.

A Manhattan Federal Court has approved SAC Capital’s $1.2 billion (€867 million) settlement for insider trading.

As part of the settlement, SAC Capital is required to pay the $1.2 billion financial penalty on top of the $616 million it had already agreed to pay to the US Securities & Exchange Commission.

US prosecutors announced in November last year that SAC Capital had agreed to plead guilty to insider trading charges, although its founder Steven Cohen was not charged with any crime.

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