SAC Talks To Investigators In Insider-Trading Probe

May 24 2011 | 1:16pm ET

SAC Capital Advisors has met with the congressional investigators looking into possible insider-trading at the hedge fund giant.

The Stamford, Conn.-based firm said it "welcomed the opportunity to meet with the staff and to educate them about the firm and our compliance efforts, and had an entirely appropriate, professional and cordial meeting," MarketWatch reports.

"We will continue to cooperate in any way we can," SAC added.

The firm, which has been tarred by association with several insider-trading scandals and investigations, but which has never been accused of any wrongdoing itself, in currently in the sights of Sen. Charles Grassley (R-Iowa), who is looking into about 20 possible instances of illegal trading by the firm. In addition, congressional investigators are looking into SAC's derivatives trading, and have sought to bring the Justice Department, Financial Industry Regulatory Authority and Securities and Exchange Commission on board.


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