Tue, May 21, 2013
A A A
Welcome Guest
Free Trial RSS
New! Family Office and Investor Database with 11,750 contacts
Alternative Market Briefing

SAC Capital under scrutiny over Weight Watchers, InterMune trades

Monday, December 10, 2012

From Precy Dumlao, Opalesque Asia:

Steven Cohen’s $14bn SAC Capital Advisors is facing scrutiny from the Securities and Exchange Commission and the Federal Bureau of Investigation over trades it made in Weight Watchers International and InterMune Inc., various media reports said.

In a report, Bloomberg quoted an unidentified source about the investigations confirming the on-going probe.

Last November 28, Cohen told clients that his firm received a Wells notice from the SEC concerning former SAC portfolio manager Matthew Martoma who was formally charged with insider trading that resulted in profits amounting to $276m.

Cohen, who has not been charged with any wrongdoing, assured investors that the company "acted appropriately and will continue to co-operate with the government’s inquiry. A separate report by Reuters confirmed that U.S. authorities have placed SAC Capital under probe for possible insider trading in the shares of popular diet company Weight Watchers International, particularly during the first half of last year when the hedge fund firm took a sizeable position in the stock.

A person privy to th......................

To view our full article Click here

Banner
Today's Exclusives Today's Other Voices Banner More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Goldman offers hedge funds to the 99%[more]

    From TheStreet.com: Goldman Sachs said Thursday it is bringing the sophisticated trading strategies of Wall Street hedge funds to individual investors with investment portfolio's and retirement accounts as small as $1000. The bank's investment management unit, Goldman Sachs Asset Management, i

  2. Opalesque Exclusive: New research examines quantitative trend following as an equity risk hedge[more]

    Bailey McCann, Opalesque New York: New research from Nigol Koulajian founder and CIO, and Paul Czkwianianc, Head of Research at Quest Partners, a New York-based systematic fund, looks at how quantitative trend following could be used

  3. People – Jupiter switches lead manager on alternative UCITS fund, Dr. Dermot F Smurfit appointed as Chairman of the ML Capital Group[more]

    Jupiter switches lead manager on alternative UCITS fund From Citywire.co.uk: Jupiter has named Mike Buhl-Nielsen as lead manager on its Europe-focused long/short equity fund, the asset management company has announced… Full article:

  4. Launches – Blackstone preparing launch of ‘super’ hedge fund, Paulson said to team with insurer for new low-tax merger fund[more]

    Blackstone preparing launch of ‘super’ hedge fund From FT.com: Blackstone is preparing to launch a “super” hedge fund to cherry-pick the best trades from the hundreds of third-party hedge funds it invests with, in an effort to try to recapture the outsize returns the $2tn industry was on

  5. Unusual, Short Term Investment "Option": The reason timber increases in value is that from the green-sawn planks that eventually become hardwood flooring, the value is determined by the moisture content. During the drying period the timber gets harder and stronger and increases in value by approximately 40%. The structure of the model all