SAC Capital, SEC Agree To $1 Billion Settlement [REPORT]

SAC Capital Advisors and the Securities and Exchange Commission have agreed in principle to what would be the largest ever settlement for insider trading, ranging from $1.2 billion to $1.4 billion, reports Michael Rothfeld and Juliet Chung for The Wall Street Journal. When a previously agreed upon $616 million settlement for civil insider trading charges is included, the firm will have to pay nearly $2 billion. SAC Capital, run by Steven A. Cohen, has not admitted any wrongdoing as part of the civil settlement and neither settlement would prevent the criminal investigations that are looking into Cohen’s trades. There are currently no charges against Cohne personally, though that could...