CNBC.com Enterprise Reporter Lawrence Delevingne explains why this hefty fine is no big deal for the SAC Capital fund manager, who is worth far more.» Read More
way to SAC Capital Advisors portfolio manager Michael. Steinberg is the first employee of Steven A. Cohen's SAC Capital Advisors to face trial in a decade-long government investigation of insider trading at the hedge fund.
SAC is planning to fight the civil case against its founder Steve Cohen for failure to supervise employees.
CNBC's Kate Kelly reports SAC Capital has signaled it is planning to fight the SEC in another civil case against Steve Cohen for failure to supervise employees who allegedly broke the law.
CNBC's Kate Kelly reports that SAC Capital is considering moving its family office into a new corporate entity, which may result in a name change.
SAC Capital says it will manage only the capital belonging to founder Steve Cohen, his relatives and certain employees.
Former FDIC chair Shelia Bair feels the $1.8 billion fine against SAC hurts and she applauds the U.S. Attorney and SEC for bringing charges against SAC.
SAC Capital Advisors is expected to pay $1.8 billion to the federal government after pleading guilty to criminal fraud charges. CNBC's Kate Kelly reports the latest details.
Steven Cohen will likely earn more in 2013 than the $1.8 billion he has paid in settlements for SAC Capital, said people close to the matter.
SAC said that it is responsible "for the handful of men who pleaded guilty and whose conduct gave rise to SAC's liability." CNBC's Kate Kelly reports.
U.S. Attorney Preet Bharara says it is rare to hold a corporate entity like SAC Capital accountable for these types of securities fraud charges, reports CNBC's Kate Kelly.
Are some institutions too big to jail? CNBC's Kate Kelly says this unprecedented case is not over yet and this settlement serves as a warning to what potential litigation lies ahead.
April Brooks, FBI special agent-in-charge, says SAC's plea demonstrates that cheating and breaking the law were permitted and allowed to persist. SAC will terminate operations as an investment adviser, Brooks added.
U.S. Attorney Preet Bharara announces the resolution to the SAC plea agreement which does not involve guilt by any individual nor does it provide criminal protection or immunity for any individuals going forward.
CNBC's Scott Cohn and Bethany McLean, Vanity Fair contributing editor, discuss the large scope of the SAC investigation.
Hedge fund SAC Capital has agreed to pay $1.8 billion in an insider-trading settlement with the U.S.
CNBC's Kate Kelly reports that SAC Capital will settle with the Federal government for a $1.8 billion fine and will plead guilty to at least one count of securities fraud.
SAC Capital could reach an agreement with Federal prosecutors as early as this week, reports CNBC's Kate Kelly. In the wake of a settlement, SAC must either become a family office, or close down entirely.
Federal prosecutors are close to finalizing a settlement with SAC Capital, according to sources, who added that a deal could be announced this week.
SAC Capital Advisors is near a settlement deal with U.S. prosecutors which would force the fund to close or become a family office, reports CNBC's Kate Kelly with the latest details.
CNBC's Kate Kelly reports SAC Capital's Steve Cohen has downsized his own trading book significantly, and the hedge fund is moving closer to a settlement with Justice officials.