SAC No Longer Cooperating Unconditionally With Insider Trading Investigation [UPDATED]

SAC has told its clients that its cooperation with United States Regulators is no longer unconditional. The investment firm has been in trouble in recent weeks as it fights various lawsuits resulting from insider trading allegations. The move puts more pressure on regulators as they try to clean up the various accusations held against the company.

The firm said that there would be “substantially more clarity” through 2013 about the investigation. The company made the statement in a letter it sent to its clients on Friday. The company expects disclosure to clients...