SAC Capital Advisors

Hedge Fund To Operate As It Faces US Fraud Charges

Jul 26, 2013
wikipedia commons

A giant hedge fund led by an embattled billionaire is pledging to continue normal operations after a New York indictment accused it of insider trading.

The indictment against SAC Capital Advisors was unsealed Thursday. Lawyers for the company are expected to appear in federal court in Manhattan this morning. The charges claim the company permitted an environment where extensive insider trading could reap hundreds of millions of dollars in illegal profits for more than a decade.