Tue, Oct 25, 2016
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Update: SAC investors face clawbacks from SEC

Monday, July 29, 2013

Precy Dumlao, Opalesque Asia:

The trouble hounding beleaguered hedge fund manager Steven Cohen and his $15bn SAC Capital Advisors is seen to trickle down to his investors as the Securities and Exchange Commission is expected to pursue his assets through clawback.

According to a commentary published by Tavakoli Structured Finance, if government prosecutors can prove Cohen is guilty of insider trading, then the next move of the SEC is to clawback illegal profits obtained from the illegal transaction.

"If investors accessed SAC through a fund of funds or a multi-advisor fund, they (SEC) will likely sue the managers of those funds," the commentary said. But the biggest loser will still be Cohen as he owns nearly 60% of SAC’s assets as all of the funds will be up for grabs by the SEC because of the insider trading case.

Last week, various media reported that Federal prosecutors indicted Cohen on a criminal charge of insider trading, in a rare move against a large company that could threaten its survival. The authorities, who described Cohen as a "magnet for cheating," argued that the firm and its units permitted a "systematic" insider trading scheme to unfold from 1999 to 2010, activity that generated hundreds of millio......................

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. M&A - U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga, Hedge fund Parvus shows hand, toppling William Hill merger deal[more]

    U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga From Thisismoney.co.uk: The fierce battle to buy Britain's biggest private equity group has come to an unexpected conclusion, with the original bidder walking away with the prize. SVG Capital has agreed

  2. Marc Lasry: Energy is still a phenomenal opportunity[more]

    From CNBC.com: Distressed debt specialist Marc Lasry said energy debt is still a "phenomenal opportunity" because investors can get "massively overpaid" for the risk they take on. There are "huge opportunities" in the energy sector especially in restructurings, the Avenue Capital Group CEO said Tues

  3. Opalesque Exclusive: Ex-SAC manager re-emerges with market neutral hedge fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A manager re-emerged from the SAC battleground last year to launch his own hedge fund under the umbrella of New York-based investment firm Endicott Group.

  4. North America - Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation, Billionaire hedge fund titans Dinan, Lasry on election, markets and best investment ideas[more]

    Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation From Marketwatch.com: Kyle Bass, founder of Hayman Capital Management, on Wednesday warned that the U.S. is headed toward so-called stagflation. Stagflation is typically described as persistently high inflation and hi

  5. David Einhorn speaks on passive investing, Mylan, his cheapest stock, the Fed[more]

    From Forbes.com: Greenlight Capital hedge fund manager David Einhorn (Trades, Portfolio) joined nine other famed investors on Tuesday to talk about stocks at the annual Great Investors’ Best Ideas Investment Symposium in Dallas. Presenters at the annual conference typically pitch one or severa