SAC Accepts Plea Deal That Ends Run As Hedge Fund

Nov 4 2013 | 2:53pm ET

SAC Capital Advisors, one of the largest and most successful hedge funds in history, has agreed to plead guilty to insider-trading charges that will put it out of the hedge fund business.

The Stamford, Conn.-based firm will cease to operate as an investment adviser, prosecutors said in a court filing today. SAC has also agreed to pay a record $1.8 billion, half of which is a fine and the other half a forfeiture.


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