http://www.finalternatives.com/node/24417
SAC Capital Advisors and federal prosecutors have reached an
agreement that will allow the hedge fund to continue operating and
investing even as it battle criminal fraud allegations.
The protective order and related application were submitted yesterday to U.S. District Judge Richard Sullivan's approval.
Under the deal, SAC must maintain at least 85% of the "aggregate
value" of assets owned by its "entity defendants" as of July 1, some
three weeks before prosecutors charged the firm with insider-trading.
Should assets fall below that specified level during a month, SAC would
have to "replenish" them within five days of the end of the month.
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