Steve Cohen’s hedge fund SAC Capital Advisers has denied insider trading charges, pleading not guilty plea in a New York court. The plea was entered in Manhattan federal court by Peter Nussbaum, the fund’s lawyer. This response came a day after the company was charged with wire and securities fraud. Prosecutors say evidence of wrong-doing at the firm is “voluminous”, but SAC has said it will continue operating as it fights the charges. The company has been accused of knowingly allowing insider trading in companies such as Dell for over 10 years.
29 July 2013