Cohen’s SAC Capital Sued By Elan Investors For Nearly $1 Billion

Mani

Published onMay 15, 2013

Updated on May 13, 2021

Elan Corporation, plc (ADR) (NYSE:ELN) shareholders filed a law suit seeking nearly $1 billion against SAC Capital for alleged insider trading on the Irish drug maker by the hedge-fund.

Why SAC Capital Is Sued?

According to a report in New York Post, the law suit alleges Cohen’s SAC Capital traded on tips about a failed Elan drug trial, allowing the hedge fund to earn $720 million besides selling Elan shares worth nearly $500 million.

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Mani

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports

Cohen’s SAC Capital Sued By Elan Investors For Nearly $1 Billion

Why SAC Capital Is Sued?

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