Getting your player ready...
Hedge fund SAC Capital Advisors has reached a tentative agreement to settle its federal insider-trading case for more than $1 billion, according to the . The final amount is undecided, as a judge still has to approve the deal, but both parties have agreed “in principle,” reported WSJ. If approved, it would be the largest ever penalty of its kind.
“Prosecutors have been seeking a $1.8 billion penalty and a guilty plea from SAC,” reported the . The hedge fund, run by billionaire Steven A. Cohen, already paid the Securities and Exchange Commission $616 million in a separate insider-trading settlement earlier this year.
