‘Not Guilty’ SAC Capital Would Love To Get In A Room With The Motormouth Felons They Used To Call Colleagues And Friends

‘Not Guilty’ SAC Capital Would Love To Get In A Room With The Motormouth Felons They Used To Call Colleagues And Friends

Steven Cohen’s hedge fund, SAC Capital Advisors, pleaded not guilty to insider trading charges in federal court on Friday. The firm’s general counsel, Peter Nussbaum, flanked by five high-powered defense lawyers, entered the plea before U.S. District Judge Laura Taylor Swain in New York. U.S. prosecutors unsealed an indictment against the firm on Thursday, charging SAC Capital with presiding over a culture that encouraged traders to tap personal networks of contacts for inside information about publicly traded companies…Ted Wells, a lawyer representing SAC Capital, said he was “most concerned” with obtaining statements that former employees of the $ 14 billion hedge fund have provided the government. [Reuters]

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