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SAC Capital Pleads Guilty In Criminal Court

Steven A. Cohen's SAC Capital Advisors hedge fund pleaded guilty to fraud charges Friday in a U.S. District court in Manhattan as part of a $1.2 billion deal to resolve a long-runn... More Steven A. Cohen's SAC Capital Advisors hedge fund pleaded guilty to fraud charges Friday in a U.S. District court in Manhattan as part of a $1.2 billion deal to resolve a long-running insider trading investigation. SAC general counsel Peter Nussbaum entered the guilty plea to four counts of securities and one count of wire fraud charges, a crucial step toward ratification of the fund's record insider trading accord. Under the plea agreement SAC reached with prosecutors, the hedge fund has agreed to pay $900 million in penalties to resolve the criminal case unveiled against it in July. Less

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