25 July, 2013

CNN Breaking News

In a move that could deal a death blow to one of the country's largest hedge funds, federal prosecutors announced criminal insider trading charges against SAC Capital, the firm run by billionaire investor Steven Cohen.

The government alleges a pattern of insider trading that was "substantial, pervasive and on a scale without known precedent in the hedge fund industry."

SAC Capital did not immediately reply to requests for comment.

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