Morgan Hedge | Hedge Fund Database

Prosecutors give SAC Settlement Ultimatum

Date: THU, OCT 10 2013
Topic: Funds & Investment

FT reports that US prosecutors have given SAC Capital until November to resolve criminal charges against the hedge fund founded by Steven Cohen or risk paying more than the $1.8bn offer on the table, according to people familiar with the matter.

Lawyers for SAC Capital met representatives from the US attorney‚??s office in Manhattan last month and argued the penalty being sought was too high. They are expected to return with a counter-offer, these people said.

This article comes from Morgan Hedge | Hedge Fund Database

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