Wed, Aug 27, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
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

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Institutions – Texas Employees sets 2015 tactical plan for alternatives, CalPERS' real estate consultant cautions the pension fund's investment committee, Why Sunsuper likes hedge funds[more]

    Texas Employees sets 2015 tactical plan for alternatives From PIOnline.com: Texas Employees Retirement System will invest in up to four new hedge funds in the next fiscal year, which begins Sept. 1. Trustees approved 2015 tactical investment plans for the hedge fund, private equity and in

  2. Investors now net short S&P500 and increased Russell shorts, technicals suggest further selling[more]

    Komfie Manalo, Opalesque Asia: Market Neutral funds increased their market exposure to -1% net short from -6% net short last week, according to Bank of America Merrill Lynch’s Hedge Fund Monitor. The report also added

  3. Hedge fund assets decline in July - eVestment[more]

    Bailey McCann, Opalesque New York: Total assets in hedge funds declined in July and dropped 0.49%, marking the industry's second monthly asset decline in 2014, according to the latest asset flows data from eVestment. Despite the asset decline, total industry AUM remained above the $3 trillion

  4. AIMA makes 'the case for hedge funds'[more]

    Bailey McCann, Opalesque New York: The Alternative Investment Management Association (AIMA), the global hedge fund industry body,

  5. Managed futures' global diversification is important in next phase of economic recovery[more]

    Komfie Manalo, Opalesque Asia: The global diversification provided by managed futures may prove to be extremely valuable as the markets enter the next phase of the economic recovery, said Campbell & Company, a pioneer in absolute return invest