Photo: Vanity Fair
This afternoon, hedge Fund SAC Capital held its second conference call since a subsidiary hedge fund’s manager, Mathew Martoma, was charged in the largest insider trading case in history.The call was short, less than half an hour, but CNBC’s Kate Kelly gave the low down on what happened.
- SAC Founder Steve Cohen has not been charged with any wrongdoing.
- That said, if SAC is liable for anything monetarily, investors will not have to pay anything out. The hedge fund has set things up so that Cohen will take the financial hit.
- Cohen has been meeting individually with portfolio managers to make sure everyone is on the same page.
That’s about it, folks.