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(ELN)


NYSE - NYSE Delayed Price. Currency in USD
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Open0.00
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Ask0.00 x
Day's Range0.00 - 0.00
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Volume0
Avg. Volume100
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  • Reuterslast year

    SAC Capital to pay $10 million in investors' insider trading lawsuit

    Billionaire Steven A. Cohen's former hedge fund SAC Capital Advisors LP has agreed to pay $10 million to resolve a lawsuit by shareholders of drugmaker Wyeth, who claimed they lost money because the fund engaged in insider trading in Wyeth's stock. The proposed settlement was disclosed in court papers filed on Wednesday in federal court in Manhattan and would resolve a class action launched following the arrest of a former SAC Capital portfolio manager, Mathew Martoma, for insider trading. Martoma was sentenced in 2014 to nine years in prison after being convicted of engaging in insider trading based on confidential results of a clinical trial of an Alzheimer's drug being developed by Elan Corp and Wyeth.

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