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Sac Capital

High-Frequency Trading Marks High Water of Financial Corruption

David Paul | Posted 06.12.2014 | Business
David Paul

When a person or firm makes too much money for too long, it turns heads. And so it was with Steven A. Cohen. Year after year, Cohen's firm, SAC Capital, beat the Street. Big bets, the theory went.

Infamous Hedge Fund Really Hopes You Forgot The Whole Insider Trading Thing

Reuters | Posted 05.11.2014 | Business

By Svea Herbst-Bayliss BOSTON, March 11 (Reuters) - Steven A. Cohen, whose hedge fund SAC Capital Advisors pleaded guilty to insider t...

The High-Stakes Insider Trading Trial of Mathew Martoma

Margaret McLean | Posted 09.19.2014 | Crime
Margaret McLean

District Court Judge Paul Gardephe is presiding over what the government has called "the most lucrative insider trading scheme ever charged." As the prosecution launches its case-in-chief, the following is what to expect at trial.

Record Insider Trading Settlement Nears

Reuters | Posted 01.23.2014 | Business

Nov 4 (Reuters) - SAC Capital Advisors, Steven A. Cohen's multibillion-dollar hedge fund, and U.S. prosecutors are expected to announce on Monday a ...

Report: Hedge Fund Facing $1 Billion Penalty

Reuters | Posted 10.17.2013 | Business

NEW YORK, Oct 17 (Reuters) - Steven A. Cohen's SAC Capital Advisors and U.S. prosecutors have agreed in principle on a penalty of at least $1 billion ...

Are We Not All Jasmines Now?

John Fullerton | Posted 10.20.2013 | Business
John Fullerton

Are we not all "well kept Jasmines" now, at least those of us in the financial elite, looking the other way while our economic system has morphed into a financial system, "lacking a sound economic basis, and without economic virtues?"

Disgraced Hedge Fund CEO Throws A Party Despite Indictment

Reuters | Posted 09.27.2013 | Business

By Matthew Goldstein July 28 (Reuters) - Hedge fund billionaire Steven A. Cohen did not let the filing of criminal charges against his...

This Full-Page WSJ Ad Mocking SAC's Steve Cohen Is Pretty Hilarious

Quartz | Zachary M. Seward | Posted 07.28.2013 | Business

Quartz: The background is that Patrick Byrne, chief executive of, is among the most vocal critics of naked short selling, which ...

Investors May Face Clawbacks in SAC Scandal

Janet Tavakoli | Posted 02.24.2014 | Business
Janet Tavakoli

Fund managers that invested with SAC must be quaking in their Guccis. Investors expected them to perform first-class due diligence before placing funds under Cohen's management. Yet serious questions have swirled around Cohen's trading practices for more than a decade.

Disgraced Hedge Fund Pleads Not Guilty To Damning Charges

Reuters | Posted 09.25.2013 | Business

* Voluminous evidence includes court-authorized wiretaps * Sept 24 next court date By Bernard Vaughan NEW...

Mark Gongloff

SAC Capital Indictment Does Not Mean The End Of 'Too Big To Jail' | Mark Gongloff | Posted 07.25.2013 | Business

The feds finally seem to have gotten over their fear of bringing criminal charges against a financial company -- but that doesn't mean they have lost ...

Report: SAC Capital To Face Federal Criminal Charges

Reuters | Sakthi Prasad and Matthew Goldstein | Posted 07.24.2013 | Business

(Reuters) - Federal prosecutors are preparing to announce criminal charges as early as this week against Steven A. Cohen's hedge fund SAC Capital Advi...

Mark Gongloff

Billionaire Hedge Fund Manager May Avoid Jail | Mark Gongloff | Posted 07.19.2013 | Business

We may be on our way to not getting any criminal charges in yet another high-profile Wall Street case. The Securities and Exchange Commission on Fr...

A Second Chance for Empathy

Adam Resnick | Posted 06.01.2013 | Politics
Adam Resnick

America remains a land of second chances. We increasingly see politicians, like former South Carolina Governor Mark Sanford, who attempt comebacks in their public careers. We love comeback stories precisely because we can all relate to them. Indeed, the greatest sin of all, is the sin of hypocrisy.

Daddy's Been Arrested

Marty Kaplan | Posted 05.31.2013 | Crime
Marty Kaplan

At 6 a.m. last Friday, the FBI arrested Michael S. Steinberg, a 41-year-old stock trader for New York hedge fund SAC Capital Advisors, at his $8 million Manhattan co-op.

Portfolio Manager Arrested In Insider Trading Probe

Reuters | Posted 03.29.2013 | Business

(Reuters) - Michael Steinberg, a portfolio manager at Steve Cohen's 15 billion SAC Capital Advisors, was arrested by the Federal Bureau of Investigati...

Hedgzilla vs. Finothra

J.E. Fishman | Posted 04.22.2013 | Business
J.E. Fishman

Destroying civilization as we know it never figured into Hedgzilla and Finothra's plans. It's just that, you know, stuff happens. Did I really destroy your house with my giant tail? Golly. How about -- I know! -- a visit to the house in East Hampton for my larger-than-life friends.

Hedge Fund Accused Of Weight Watchers Insider Trading

Reuters | Posted 02.06.2013 | Business

* US looking at possible insider trading in early 2011 * Weight Watchers shares doubled during the period under review ...

4 Signs The Feds Latest Super-Rich Target Has Way Too Much Money

The Huffington Post | Mark Gongloff | Posted 11.29.2012 | Business

Huge news on Wall Street: One of its brightest hedge fund stars, SAC Capital, founded by the secretive, ludicrously wealthy Steven A. Cohen, has been ...

Ben Hallman

Doctors Who Advise Wall Street Investors Operate In Ethical Grey Zone | Ben Hallman | Posted 11.27.2012 | Business

Once upon a time on Wall Street, the enterprising trader looking for a nugget of inside information about a public company worked the phones, develope...

$5 Million Bail?

Reuters | Posted 01.26.2013 | Business

By Emily Flitter and Basil Katz NEW YORK, Nov 26 (Reuters) - A former SAC Capital portfolio manager was released on $5 million bail on...

Hedge Fund Faces SEC Probe Over Possible Insider Trading

Posted 12.20.2011 | Business

The Securities and Exchange Commission is examining whether hedge fund SAC Capital Advisors used insider information to profit from Johnson & Johnson'...

Matt Taibbi: The SEC's 'Orwellian' Wall Street Cover Ups

Rolling Stone | MATT TAIBBI | Posted 10.17.2011 | Business

For the past two decades, according to a whistle-blower at the SEC who recently came forward to Congress, the agency has been systematically destroyin...

SAC Capital Faces Insider Trading Probe On Takeover Of MedImmune

Posted 08.01.2011 | Business

SAC Capital Advisors LP faces an insider trading probe from the U.S. Securities and Exchange Commission related to the $15 billion takeover of biotech...

Steve Cohen's SAC Capital Investigated For Possible Insider Trading

Posted 07.21.2011 | Business

CHICAGO/NEW YORK (Ann Saphir and Matthew Goldstein) - A powerful Republican lawmaker is investigating possible insider trading at SAC Capital Advisors...