SAC Capital to pay $135 million in investors' insider trading case
30/11/2016 22:06
NEW YORK, Nov 30 (Reuters) - Billionaire Steven A. Cohen's
former hedge fund SAC Capital Advisors LP has agreed to pay $135
million to resolve a lawsuit by shareholders of Elan Corp, who
claimed they lost money because it engaged in insider trading in
the drugmaker's stock.
The proposed settlement was disclosed in court papers filed
on Wednesday in Manhattan federal court and would resolve a
class action launched following the arrest of a former SAC
Capital portfolio manager, Mathew Martoma, for insider trading.
(Reporting by Nate Raymond in New York; Editing by Chris Reese)
((Nate.Raymond@thomsonreuters.com and Twitter @nateraymond;
646-223-6752; Reuters Messaging:
nate.raymond.thomsonreuters.com@reuters.net))
Keywords: USA INSIDERTRADING/SACCAPITAL