Tue, Jul 22, 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. Events – AIMA Australian Hedge Fund Forum, Sept. 16, Sydney[more]

    AIMA Australia invite you to join us at our annual Hedge Fund Forum on Tuesday 16th September 2014 at the Sofitel Sydney Wentworth. The AIMA Australian Hedge Fund Forum is a non-profit hedge fund conference organised by the industry for the industry, featuring quality Australian and internation

  2. Opalesque Exclusive: Loeb, Grantham cite growing economic concerns in letters[more]

    Bailey McCann, Opalesque New York: Hedge fund manager Daniel Loeb, head of Third Point, and Jeremy Grantham of Grantham, Mayo, Van Otterloo & Co. have both released their quarterly investor letters today. While news is positive on some fronts, and both men see pockets of opportunity, they also h

  3. Investing – Hedge funds expect Netflix earnings to catapult forward, Third Point's Loeb takes stakes in Fibra Uno, YPF, Royal DSM, Lake Capital in talks to back Engine Group[more]

    Hedge funds expect Netflix earnings to catapult forward From Investing.com: Netflix has made major strides forward in 2014 despite ongoing battles with the FCC and cable companies over the issue of net neutrality. The FCC has now received over 500,000 comments from the public on its pend

  4. Opalesque Roundtable: European family offices struggle to retain their investments in offshore hedge funds[more]

    Komfie Manalo, Opalesque Asia: The European Union’s Alternative Investment Fund Managers Directive (AIFMD) will constrain investment opportunities amidst concern a number of U.S. fund managers will stop marketing their products in the European Union under the new rule, said Valentin Bohländer fro

  5. Opalesque Roundtable: Success in hedge fund marketing not linked to performance, but investor appetite[more]

    Komfie Manalo, Opalesque Asia: Success in marketing a fund is not linked to the performance, but to investor appetite, to the way you can market the fund, and to how much time you can spend to raise assets, said Antoine Rolland, the CEO of incubator and seeding firm