Enter multiple symbols separated by commas

SAC Capital nears record insider trading settlement: sources

Embattled hedge fund SAC Capital is moving close to an agreement with prosecutors to settle insider trading charges for more than $1 billion, sources tell CNBC, which would be the largest ever penalty of its kind.

According to sources familiar with the matter, the settlement could be final by the end of this month. However, SAC is still negotiating with the government over a host of non-financial issues. Meanwhile, founder Steven A. Cohen has scaled down his own trading activities, from $4 billion to near $1 billion currently, sources add.

An SAC spokesman reached by CNBC had no immediate comment.

--reporting by CNBC's Kate Kelly; writing by Javier E. David

Contact Hedge Funds


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.