{"id":55467,"date":"2016-12-01T08:59:07","date_gmt":"2016-12-01T13:59:07","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=55467"},"modified":"2016-12-01T08:59:07","modified_gmt":"2016-12-01T13:59:07","slug":"cohens-sac-capital-in-135-mln-settlement-with-elan-investors","status":"publish","type":"post","link":"https:\/\/www.hedgeco.net\/news\/12\/2016\/cohens-sac-capital-in-135-mln-settlement-with-elan-investors.html","title":{"rendered":"Cohen’s SAC Capital in $135 mln Settlement with Elan Investors"},"content":{"rendered":"

(Reuters) Billionaire Steven A. Cohen’s former hedge fund SAC Capital Advisors LP will pay $135 million to settle a lawsuit by investors in the drugmaker Elan Corp, who said they lost money because of insider trading by one of his portfolio managers.
\nThe preliminary class-action settlement with SAC, now known as Point72 Asset Management LP, was filed on Wednesday with the federal court in Manhattan, and requires approval by U.S. District Judge John Koeltl.<\/p>\n

It resolves claims over an estimated $275 million of illegal trading gains in Elan and the drugmaker Wyeth by Mathew Martoma, who worked at SAC’s CR Intrinsic Investors unit, based on tips from a Michigan doctor about a 2008 Alzheimer’s drug trial.<\/p>\n

To read this article:<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) Billionaire Steven A. Cohen’s former hedge fund SAC Capital Advisors LP will pay $135 million to settle a lawsuit by investors in the drugmaker Elan Corp, who said they lost money because of insider trading by one of his […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-55467","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/55467","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=55467"}],"version-history":[{"count":1,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/55467\/revisions"}],"predecessor-version":[{"id":55468,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/55467\/revisions\/55468"}],"wp:attachment":[{"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=55467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=55467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=55467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}