U.S. District Judge Victor Marrero in Manhattan allowed the entire case against Cohen and SAC to go forward, apart from some claims brought too late.
NEW YORK, Aug 14- A federal judge rejected billionaire investor Steven A. Cohen's bid to dismiss lawsuits by Elan Corp and Wyeth shareholders who claimed they lost money because his firm SAC Capital Advisors LP conducted insider trading in the drugmakers' stocks.
NEW YORK, June 27- Mathew Martoma, a former SAC Capital Advisors portfolio manager convicted of insider trading, should be sentenced to a "substantial" term of prison beyond the eight years recommended by probation officers, U.S. prosecutors argued Friday. In court papers filed in New York federal court, prosecutors urged U.S.
SAN DIEGO June 23- Dublin, Ireland- based Alkermes Plc has the low-tax domicile currently in vogue among multinational pharmaceutical companies but is not interested in being bought out as it nears the launch of new drugs, its chief executive said on Monday.
NEW YORK, May 28- A prison sentence approaching 20 years would be an appropriate punishment for Mathew Martoma, a former SAC Capital Advisors LP fund manager convicted of insider trading, U.S. court officials said, prompting his lawyers to object strenuously.
NEW YORK, May 28- U.S. court officials said Mathew Martoma may deserve a record prison term for insider trading, perhaps approaching 20 years, prompting strenuous opposition from lawyers for the former SAC Capital Advisors LP fund manager.
In total, SAC Capital has agreed to pay $1.8 billion to resolve criminal and civil probes into insider trading. SAC Capital also agreed to be placed on probation for five years, and employ a compliance consultant, former federal prosecutor Bart Schwartz.
In total, SAC Capital has agreed to pay $1.8 billion to resolve criminal and civil probes into insider trading. SAC Capital also agreed to be placed on probation for five years, and employ a compliance consultant, former federal prosecutor Bart Schwartz. The sentencing marks the end of an era for SAC Capital, which by last year had managed $15 billion of assets.
NEW YORK, Feb 28- Former SAC Capital Advisors LP portfolio manager Mathew Martoma asked a U.S. judge to throw out his insider trading conviction, saying federal prosecutors did not prove he committed a crime and that improper evidence and jury bias tainted the verdict. The request submitted late Thursday night in the U.S. District Court in Manhattan was expected.
The probe into insider trading continues with authorities looking at a number of funds, including SAC Capital, a source tells CNBC.
SAC Capital's head trader testified that Steven Cohen had instructed him to start selling Elan stock in accounts that had "less visibility."
A key witness testified in Matthew Martoma's insider trading scandal that he provided Martoma with confidential information about a drug trial.
Jim Cramer has been a fan of this company for quite some time. But a good stock always needs new catalysts.
A former SAC Capital Advisors trader wants to cite in court some 2012 testimony given by the hedge fund's founder Steven Cohen, claiming it rebuts the government's case.
After two decades of research, a treatment that slows or reverses the progression of Alzheimer's has proved elusive. The aging of the global population makes the need more urgent.
Wednesday marks 45 days since the end of the second quarter, or as it's known in the financial community, "13F Day." Some of the world's biggest funds report their holdings.
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Cramer says a trio of recent deals demands attention.
Stocks kicked off the week on a weak note as investors hesitated to jump in ahead of the Federal Reserve meeting and a slew of key economic reports.