" ... Steve Cohen ... has agreed to pay $135 million to resolve a lawsuit by shareholders of Elan Corp. who claimed they lost money because it engaged in insider trading in the drugmaker's stock." - Reuters, reprinted in BusinessInsider, November 30, 2016. Here is the article.
This dates back to the sensationalistic trial of former Cohen employee at SAC Capital, Mathew Martoma. His enormous legal expenses were paid, incidentally, by Cohen. But Martoma didn't get off the hook.
He's now in prison. During the trial it came out that he fudged his grades at Harvard Law School. When he was caught, he got kicked out. He claimed he engaged in that shady behavior because he was afraid of his parents.
Before this latest settlement, Cohen essentially got off the hook with the SEC. That was through the legal assistance of superlawyer David Boies. Now Cohen is back to business as usual. The settlement allowed him to return to the hedge fund business. Manhattan U.S. Attorney Preet Bharara never got a crack at him.
But SAC Capital Advisors is gone. That brand become infamous, with former employees going to prison for insider trading. Now Cohen operates Point 72 Asset Management.
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