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Thu July 25, 2013
DOJ Accuses Hedge Fund SAC Capital Of Major Insider Trading
Originally published on Thu July 25, 2013 3:43 pm
Federal prosecutors finally brought their case against SAC Capital, the giant hedge fund that for years has outperformed almost all of its competitors. Prosecutors say they know why. The firm encouraged the use of illegal insider information and trading on that information became a part of the firm's culture, according to the indictment.