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SAC Capital to Pay $1.8 Billion for Insider Trading

HeadlineApr 11, 2014

A federal judge has accepted a guilty plea from the hedge fund SAC Capital, sealing a $1.2 billion criminal settlement for insider trading. In total, the firm has agreed to pay $1.8 billion to settle civil and criminal probes, marking what the Justice Department called the largest insider trading settlement in history. Eight former SAC employees have been convicted or pleaded guilty to criminal charges, but that list does not include founder and CEO Steven Cohen, who has not been criminally charged. Cohen’s firm, renamed Point72 Asset Management, will now oversee his $9 billion personal fortune.

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