Nov
30

SAC Capital to Pay $135 Million to End Last Insider Case

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  • Steve Cohen’s old firm agrees to settle with Elan shareholders
  • 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…

SAC Capital to Pay $135 Million to End Last Insider Case

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