Photo: New York magazine
This headline just breaking from Bloomberg News…SAC SAID TO CONSIDER EXTENDING CLAIMS AGAINST SAC TO COHEN.
During a conference call with investors this morning, SAC Capital Advisors disclosed that it had received a Wells Notice from the SEC, CNBC’s Kate Kelly reported. The Wells Notice indicates that SAC may face civil charges.
Steve Cohen was not mentioned in the SEC notice, Bloomberg News reported earlier.
Last week, former SAC portfolio manager Mathew Martoma was arrested and charged with what’s believed to be the “most lucrative” insider trading scheme of all time. Martoma was employed at CR Intrinsic, a subsidiary of SAC.
Cohen told investors on the call this morning that he’s confident he acted appropriately and takes this matters very seriously, according to CNBC.
Business Insider Emails & Alerts
Site highlights each day to your inbox.