Steven Cohen’s SAC Capital claims to have had no suspicious trading in Galleon’s stocks

November 11th, 2009
| More
In the wake of the Galleon Group’s insider-trading case, Steven Cohen’s hedge fund firm SAC Capital Advisors has stated to clients that the firm has reviewed its activity with the stocks in question in the Galleon case and came across no suspicious trading. The firm and its employees have not been subpoenaed in the case, although according to Bloomberg, Richard Choo-Beng Lee, a portfolio manager at SAC Capital from 1999 until 2004, has pleaded guilty and is cooperating with prosecutors. Mr. Lee will not be further prosecuted for insider trading that may have occurred at SAC Capital in return for his cooperation.

SAC Capital Advisors was founded in 1992 by Steven Cohen. Mr. Cohen and his business partners account for an estimated 60% of the Connecticut-based firm’s assets.
See Source
For Detailed Investor Profiles on these Investors, click below:
Galleon Management
SAC Capital Advisors
Related People: Gary Rosenbach; Raj Rajaratnam; Steven A. Cohen
Related Entities: Canvas Capital; CR Intrinsic Investors; Galleon Admiral's; Galleon Buccaneers; Galleon Captains; Galleon Communication; Galleon Diversified; Galleon Explorers; Galleon Group; Galleon Healthcare; Galleon Technology; S.A.C. Global Investors; SAC Capital Associates; SAC Meridian; SAC MultiQuant; SAC Select; Sigma Capital Management; Walter Capital Management*
Related Article Tags: Hedge Fund Fraud and Ponzi Scheme News

Add a Comment

More Recent Headlines

Former Star Manager of Goldman’s Global Alpha Fund to Launch New Hedge Fund

CFO of Boston Provident Charged with Securities Fraud

John Henry’s Hedge Fund lays off almost one third of its team

Flintlock Commodity Opportunity Partners to be launched by Ex-Tudor PM Steve Matthews

Value Line’s $24 million Fraud Scheme ends after almost 20 years

Nathan Dean joins Quoin Partners as Senior Partner

Gabelli’s GAMCO pushes shareholder activist agendas at Three Companies

Equity Markets and Hedge Funds have 1st down Month in 7 Months

Did the Stock Market Collapse Help Some Hedge Funds Mask More Serious Problems?

RWC Long-Short Strategy Gets Backing from SAC Capital