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.» Read More
Filed in U.S. District Court in New York, the Martoma documents showed how extensively investigators questioned Cohen about the trading at the center of the case against Martoma, who was charged in November 2012 with insider trading in what is said to be the most lucrative such U.S. scheme ever.
Attorney Preet Bharara announced at a televised press conference on Nov. 4 that Steven A. Cohen's SAC Capital Advisors would plead guilty to insider trading, two prosecutors stood quietly to his right.
Oct 28- Biogen Idec Inc on Monday reported $286 million in third-quarter sales of its high-profile new multiple sclerosis drug Tecfidera, providing fresh evidence that the medicine is off to an impressive launch and exceeding all expectations.
NEW YORK, Oct 23- Aptalis Pharma Inc, a specialty drugmaker owned by private equity firm TPG Capital LP, has appointed underwriters for an initial public offering after efforts to sell the company failed, people familiar with the matter said on Wednesday.
NEW YORK, Sept 24- A federal judge on Tuesday pushed back the insider trading trial of former SAC Capital Advisors portfolio manager Mathew Martoma to Jan. 6.
NEW YORK, Aug 30- A U.S. appeals court upheld the 2008 fraud conviction of money manager and arts patron Alberto Vilar, but ordered that he be resentenced, in a decision that may set back some government efforts to fight insider trading and other securities fraud.
*Akorn to pay $43.50/ Hi-Tech share. *Akorn sees annual savings of $15- $20 mln. Aug 27- Generic drugmaker Akorn Inc will buy rival Hi-Tech Pharmacal Co Inc for $640 million to expand its eye drug portfolio to oral liquids and ointments.
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NEW YORK, July 25- Federal prosecutors came down hard on billionaire hedge fund manager Steven A. Cohen on Thursday, unveiling criminal fraud charges against his SAC Capital Advisors LP that could put an end to his investment career. Cohen, 57, was not personally charged in either the criminal case or the civil case filed in U.S. District Court in New York.
Eli Lustgarten of Longbow Research says Caterpillar is probably reaching a bottom and that if mining stabilizes it should be an up year for the stock. The key will be that earnings don't continue downward next year. Ann Duignan of JPMorgan weighs in.
In a highly unusual, 46-page white paper, lawyers for Steve Cohen shoot back at regulators who says he ignored "red flags" at SAC Capital.
"Faced with red flags of potentially unlawful conduct by employees under his supervision, Cohen allowed his traders to execute the recommended trades and stood by," the SEC said. In March, Cohen agreed to pay about $616 million to settle SEC probes into alleged insider trading at CR Intrinsic and Sigma.
July 16- Johnson& Johnson on Tuesday reported higher-than-expected quarterly earnings on strong demand for its prescription drugs and medical devices, but a big gain from the sale of a stake in Irish drugmaker Elan Corp skewed the results. The diversified healthcare company, whose shares rose 1 percent to $91.34, said it earned $3.8 billion, or $1.33 per share.
July 16- Johnson& Johnson reported higher-than-expected second-quarter earnings as strong sales of prescription drugs and medical devices more than offset anemic growth of its consumer products.
U.S. prosecutors do not have enough evidence to file insider trading charges against hedge fund manager Steven A. Cohen before a July deadline, the WSJ reported.