The U.S. Attorney in Manhattan has indicted one of the biggest and most successful hedge funds in the country: SAC Capital Advisors LP.
The indictment is a blow to trading mogul Steven A. Cohen and his firm, adding it to a list of financial firms that have faced criminal charges. No major financial firm has survived a criminal indictment.
To understand more of what this means for SAC, MoneyBeat spoke to Samuel Buell, a professor at Duke University School of Law, who led the government’s 2002 prosecution of accounting giant Arthur Andersen, and to Solomon L. Wisenberg, a partner and co-chair of the white-collar group at Barnes & Thornburg LLP.
via blogs.wsj.com
It proceeds to offer a very good analysis. Go read the whole thing.
