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Federal Officials Say Hedge Fund Will Pay Huge Fine For Insider Trading

Federal prosecutors say one of Wall Street's most successful hedge funds, SAC Capital Advisors, has agreed to pay a total of $1.8 billion to settle charges it encouraged rampant insider trading for many years. Federal prosecutors say SAC employees used information not available to the general public to illegally make major trades. Using such non-public information gave SAC an unfair advantage over rival investors. SAC also agreed to stop managing money for outside investors, and establish ...

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