Article: Steven Cohen and SAC reach $135m insider-trading settlement

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Steven Cohen and SAC reach $135m insider-trading settlement

Rob Copeland, The Wall Street Journal, 01 December 2016

Billionaire Steven A. Cohen and his former hedge fund SAC Capital Advisors agreed to a $135 million class-action settlement on November 30, bringing legal costs tied to SAC-related insider-trading cases close to $2 billion.

The new amount will be paid to investors in Elan Corp., now a part of Perrigo Co. Elan played a part in a case involving a former employee, Mathew Martoma, who was in 2014 sentenced to nine years in prison for trading on inside tips in Elan and other stocks while at SAC.

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