Nov
30
SAC Capital to Pay $135 Million to End Last Insider Case
By-
Steve Cohen’s old firm agrees to settle with Elan shareholders
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Investors sued over Mathew Martoma insider trades at SAC
Steven Cohen.
Photographer: Scott Eells/Bloomberg
With a little more than a year to go before he’s free to manage other people’s money again, Steven A. Cohen closed the book on the last insider-trading claim still plaguing his SAC Capital Advisors.
Cohen, 60, and SAC Capital agreed to pay $135 million to a group of Elan Corp. investors, resolving what may be the last major legal claim against his old firm, which was a target of the biggest insider-trading investigation in U.S. history…