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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.
Federal prosecutors are asking SAC Capital for $2 billion to settle criminal insider trading charges, reports CNBC's Mary Thompson; and CNBC's Michelle Caruso-Cabrera reports President Obama and Iranian President Hassan Rouhani did not shake hands at the UN General Assembly today.
Intuit has just announced its partnership with mobile payment giant "Square." CNBC's Jon Fortt speaks with Intuit's CEO Brad Smith about whey they chose Square and are not doing it themselves. CNBC's Kate Kelly reports settlement talks between SAC Capital and the Department of Justice are at a very early stage.
Lawyers for the hedge fund SAC Capital and prosecutors met to discuss a potential settlement of the case.
CNBC's Kate Kelly reports Fed prosecutors allegedly proposed settling the insider trading case with SAC Capital for $1.5-2 billion. SAC lawyers are expected to submit a counter offer in coming weeks.
CNBC's Kate Kelly reports SAC Capital is announcing a staff retention program today.
After charges of insider trading were filed in July, investors began pulling money out of SAC Capital. CNBC's Kate Kelly shares how the firm is looking to stay afloat.
SAC Capital started the year with about $6 billion of its $16 billion coming from external assets, reports CNBC's Kate Kelly. Sources say that figure is now at less than $1 billion.
Three weeks after being indicted, SAC Capital is prepared for another round of investor redemptions that could drain nearly all its outside assets by year's end.
SAC Capital is reportedly preparing for layoffs as the hedge fund braces for a new wave of redemptions ahead of Friday's deadline. CNBC's Ron Insana and Kate Kelly, provide perspective.
CNBC's Kate Kelly reports SAC Capital and prosecutors have reached a deal to keep the firm running. And Pete Najarian notices some unusual activity in Macy's.
CNBC's Kate Kelly reports a judge has approved motion to stay civil proceedings against Steven Cohen. SAC's Cohen was charged with failure to supervise his employees as they engaged in what was described as securities fraud.