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SAC Capital Sued by Wyeth Investors Over Alleged Insider Trading

April 12, 2013 4:00 PM EDT Send to a Friend
(Updated - April 12, 2013 4:15 PM EDT)

Steve Cohen's SAC Capital was said to be sued by Wyeth investors over insider trading today.

The report comes bot one month after SAC settled with federal regulators for over $600 million under similar allegations.

SAC came under fire last year as the U.S. SEC charged CR Intrinsic Investors with insider trading allegations, linked directly with former fund manager Mathew Martoma. Allegations had Martoma illegally obtaining results from an Alzheimer's drug trial before the data was made public, allowing the trader to set up his position ahead of time. The trial was a collaboration between Wyeth (now part of Pfizer (NYSE: PFE)) and Elan (NYSE: ELN).

Supply the data was Sidney Gillman, a medical consultant on the trial.

No charges have been brought against Cohen.




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SAC Capital, Steven A. Cohen, CR Intrinsic Investors

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