BREAKING NEWS FROM CNBC’S KATE KELLY: SAC TO HOLD STAFF CALL AFTER THE BELL TODAY
WHEN: Today, Thursday, November 29, 2012
WHERE: CNBC's "Fast Money Halftime Report"
Following is the unofficial transcript of breaking news from CNBC's Kate Kelly. All references must be sourced to CNBC.
KATE KELLY: WELCOME BACK TO FAST MONEY HALFTIME REPORT. I'M KATE KELLY WITH SOME BREAKING NEWS. WE'VE JUST LEARNED THAT SAC CAPITAL WILL BE HOLDING ANOTHER STAFF TELEPHONE CALL THIS AFTERNOON AFTER THE CLOSE OF MARKETS TO DISCUSS THE ISSUES CURRENTLY SURROUNDING THE HEDGE FUND. THIS WILL BE THE SECOND CALL FOR THE FIRM'S INTERNAL STAFF IN ABOUT TWO WEEKS. NO DOUBT THE ISSUES THAT WILL ARISE CONTINUE TO BE STEVE COHEN, HIS INVOLVEMENT IN AN ONGOING INSIDER TRADING INVESTIGATION THAT THE GOVERNMENT HAS LAUNCHED. COHEN HAS NOT BEEN CHARGED PERSONALLY. THERE IS NO INDICATION THAT THOSE PLANS ARE COMING DOWN THE ROAD AND HE WAS NOT PART OF THE WELLS NOTICE THE FIRM RECEIVED LAST WEEK REPORTEDLY, BUT NONETHELESS, QUESTIONS SURROUND ABOUT HIS INVOLVEMENT AS WELL AS HIS PLANS TO POTENTIALLY RETIRE SOME TIME SOON REPORTED IN THE WALL STREET JOURNAL THIS MORNING. AN SAC SPOKESPERSON TELLS ME THE NOTION THAT COHEN IS SOON TO RETIRE IS UTTERLY FALSE. BUT NONETHELESS, FROM WHAT I'M HEARING, THERE IS A LOT OF QUESTION WITHIN THE FIRM ABOUT COHEN'S SITUATION AND WHAT THE LEGAL ISSUES ARE AS THEY CONTINUE TO UNFOLD, SCOTT. WE WILL BRING YOU MORE DETAILS OF THAT AS WE LEARN THEM, AGAIN, AFTER THE CLOSE OF TRADING TODAY.
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