Former SAC Capital Analyst Reaches Settlement With SEC

Apr 29 2011 | 12:55pm ET

Jonathan Hollander has reached a settlement with the U.S. Securities and Exchange Commission over insider-trading allegations dating to his time as an analyst with Steven A. Cohen’s $12 billion SAC Capital Advisors.

Reuters says Hollander has agreed to pay about $222,000, including a fine and restitution of profits made by him, a family member and a friend based on a January 2006 tip about the buyout of the Albertsons’ super market chain.

Cohen was not named in the SEC complaint.

"Jonathan has decided to settle this matter rather than engage in costly and protracted litigation with the SEC," Hollander's lawyer, Aitan Goelman, told Reuters. "He is gratified to have the matter behind him and looks forward to moving on."

Hollander’s settlement was announced the same day another former SAC Capital employee, Donald Longueuil, pleaded guilty to securities fraud and conspiracy charges in an unrelated case.

Hollander’s case stems from an SEC investigation that resulted in the October conviction of Joseph Contorinis, former Jeffries Group manager, on charges that he made over $7 million on the Albertsons’ buyout tip.

In settling with the SEC, Hollander neither admitted nor denied the allegations.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Quattrex Sports AG Debuts Soccer-Focused UCITS Fund

Sep 9 2016 | 9:54pm ET

Innovative alternative investment company Quattrex Sports has unveiled a new UCITS...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...