SAC Capital Gets Subpoenaed In Insider Trading Investigation


SAC Capital just disclosed that they’ve been asked for information about the huge insider trading scandal now, too.

According to MarketWatch, they wrote investors a letter today that said, “the government served identical “extraordinarily broad” subpoenas on a number of investment managers of different sizes and descriptions, including SAC.”

They also wrote: “Neither the subpoena nor any other information of which we are aware suggests that anyone at SAC has engaged in any wrongdoing.”

SAC’s getting subpoenaed is somewhat expected because the FBI have been raiding or requesting documents from a number of people who have been affiliated with the firm in the past. 

Click here to see a list of all of the hedge funds that have been founded by SAC alums. Four of them, five if you include SAC, have now been asked for information in the FBI’s investigation.

That means out of the 8 hedge fund or mutual fund firms that have been asked for information, 5 of them are SAC-related. Whoa.

More info as we get it.

Click here to see everyone who’s involved >

Click here to read more about SAC’s subpoena>