Dec 7 (Reuters) – U.S. authorities are investigating Steven
A. Cohen’s SAC Capital Advisors hedge fund for possible insider
trading in the shares of the popular diet company Weight
Watchers International Inc, according to people familiar
with the matter.
The investigation focuses on trading in Weight Watchers
shares in the first half of 2011, when SAC Capital had taken a
sizeable position in the stock, and potentially could implicate
the billionaire hedge fund manager, the sources said on Friday.
NEW YORK, Dec 6 (Reuters) – FBI Supervisory Special Agent
Richard Jacobs once had to go undercover as a “corrupt” stock
broker to help catch scammers on Wall Street making illegal
profits by manipulating penny stocks.
Jacobs had to live and breathe his new role.
“When you’re talking to traders, there’s a lot of slang,” he
said in a recent interview with Reuters. “I thought, ‘Can I pull
NEW YORK (Reuters) – The FBI on Tuesday arrested David Miller, a former Rochdale Securities trader whose outsized, unauthorized purchases of Apple stock in October nearly sank his firm.
U.S. prosecutors in Connecticut charged Miller with wire fraud, alleging he lied about his trading of Apple (AAPL.O: Quote, Profile, Research, Stock Buzz) shares ahead of the tech giant’s October 25 earnings announcement.
(Reuters) – Morgan Stanley hired former Goldman Sachs trader Edward Glenn Hadden to run its Treasury bond desk last year, even though his former employer had placed the trader on paid leave for about a year following an internal inquiry, said three people familiar with the situation.
The inquiry by Goldman involved a matter separate from an ongoing investigation by exchange operator CME Group into a December 2008 trade that involved U.S. Treasury futures.
NEW YORK (Reuters) – It could be weeks, maybe months, before U.S. securities regulators move on their threat of filing civil fraud charges against Steven A. Cohen’s SAC Capital Advisors.
The $14 billion hedge fund now faces a period of meetings with SEC lawyers that could stretch on for some time, said lawyers familiar with the process.
NEW YORK, Nov 26 (Reuters) – A former SAC Capital portfolio
manager was released on $5 million bail on Monday after making
his first appearance in a New York court on charges of making
illegal trades that hedge fund titan Steven A. Cohen personally
signed off on.
Mathew Martoma, 38, of Boca Raton, Florida, was charged last
week in what U.S. prosecutors called “the most lucrative”
insider-trading scheme ever.
NEW YORK (Reuters) – A former SAC Capital portfolio manager was released on $5 million bail on Monday after making his first appearance in a New York court on charges of making illegal trades that hedge fund titan Steven A. Cohen personally signed off on.
Mathew Martoma, 38, of Boca Raton, Florida, was charged last week in what U.S. prosecutors called “the most lucrative” insider-trading scheme ever.
BOSTON/NEW YORK (Reuters) – The fallout from the latest insider trading case against a former SAC Capital Group employee could reverberate throughout Steven A. Cohen’s $14 billion (8 billion pounds) hedge fund and impact the billionaire trader himself even though he has not been charged with any wrongdoing.
U.S. securities regulators, in charging former SAC Capital employee Mathew Martoma with insider trading, are also seeking to force the division where he worked to disgorge $276 million (172 million pounds) that was the result of the illicit trades.
NEW YORK (Reuters) – U.S. prosecutors on Tuesday charged a former SAC Capital employee with insider trading in a series of transactions that hedge fund titan Steven A. Cohen had personally signed off on.
In what they called “the most lucrative” insider-trading scheme ever, prosecutors alleged that Mathew Martoma helped Cohen’s firm avoid losses and reap profits totaling $276 million in the summer of 2008 by using insider tips he got from a doctor about Elan Corp and Wyeth LLC.
NEW YORK, Nov 20 (Reuters) – A former hedge fund manager who
worked for a fund affiliated with Steven A. Cohen’s SAC Capital
was arrested on Tuesday in what U.S. prosecutors are calling
“the most lucrative insider-trading scheme ever.”
Mathew Martoma, who worked for CR Intrinsic Investors in
Stamford, a unit of SAC Capital, has been accused of making more
than $276 million in illicit profits based on tips about Elan
Corp and Wyeth LLC, which was bought by Pfizer
in late 2009.