Billionaire Steve Cohen’s SAC Capital Advisors received a Wells Notice from the Securities and Exchange Commission last week, CNBC’s Kate Kelly reports.
According the report, the Wells Notice indicated that SAC could face civil charges.
UPDATE: Bloomberg News reports that the Wells Notice does not name Cohen.
During the call, SAC’s management told investors that they would be responsible for all costs or any penalties, CNBC reports.
Kelly also reports that Cohen, who opened the call this morning, told investors that he’s confident he acted appropriately and he takes these matters very seriously.