U.S. Government Appeals Landmark Insider Trading Decision to the Supreme Court
This guest post was authored by our colleague Rimma Tsvasman, an associate in the firm’s Litigation Department in New York. Rimma concentrates her practice on corporate and securities transactions, investment management and commercial litigation. She can be reached at rtsvasman@mmwr.com or 212-867-9500. In a highly anticipated move following a… Read More
Bharara’s Fire Dies Out: Cohen Remains Uncharged And Turns His Losses Into Gains
As the chapter closes on the decade-long insider trading investigation of SAC Capital Advisors, our question has finally been answered—at least for now: billionaire hedge fund guru Steven A. Cohen has dodged criminal charges for his role in managing the company now convicted of systemic… Read More
Bharara’s Infernal Region Expanded By One: Martoma Convicted
For those of us following the prosecutions of SAC Capital Advisors LP, today marked another milestone in U.S. Attorney Preet Bharara’s quest against insider-trading. Mathew Martoma, ex-SAC fund manager and pharmaceutical-industry analyst, was found guilty this afternoon of one count of conspiracy and two counts… Read More
Bharara’s Insider Trading Inferno Engulfs Its Next Victim: Former SAC Portfolio Manager Steinberg Convicted
Yesterday – seemingly before the ink even dried on SAC Capital Advisor’s unprecedented billion dollar plea agreement – U.S. Attorney Preet Bharara’s office secured the conviction of former SAC portfolio manager Michael Steinberg. As recently reported by White Collar Alert editor Carrie Sarhangi, Steinberg was… Read More
Bharara’s Insider Trading Inferno – SAC Pleads Guilty and Agrees to Pay Unprecedented $1.8 Billion Penalty. Will Cohen Also Go Down in Flames?
Billionaire Steven A. Cohen’s SAC Capital Advisors, L.P., a hedge fund accused of engaging in rampant insider trading, has agreed to plead guilty and pay an unparalleled $1.8 billion in penalties. In response to the indictment issued by Manhattan U.S. Attorney Preet Bharara on July… Read More