Asset Manager - Regulatory and Legal Developments
WSJ: Authorities to include SAC Capital in insider trading probe
November 07, 2009 8:58 AM ET
By Heta Shah
| |  Source URL | Related Companies |
Federal investigators will include SAC Capital Advisors LLC in an expanding probe into insider trading, The Wall Street Journal reported Nov. 7, citing people familiar with the matter. As part of the investigation, the U.S. government entered into a plea agreement with Richard Choo Beng Lee, a former employee of SAC Capital, under which Lee agreed to provide information about transactions by other SAC Capital traders, according to a Journal source. Under the agreement, reached Oct. 13 and made public Nov. 5, Lee will not be prosecuted for any insider trading that might have occurred during his tenure at SAC Capital between 1999 and 2004, to the extent he has disclosed it, according to the report. The publication said Lee's agreement with the government will not necessarily implicate anyone at SAC Capital with insider trading or other improper activity. | 
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