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

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...