(Bloomberg) Steven A. Cohen did something unusual when Michael S. Steinberg was arrested on the morning of March 29 and accused of insider trading at Cohens $15 billion hedge fund SAC Capital Advisors LP.
Within an hour of the accusations, SAC issued a statement defending the 16-year veteran of the Stamford, Connecticut-based firm. It was the first time SAC had come out publicly in support of an employee who had been charged in the governments wide- ranging investigation of insider trading.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access