On Air Now

Current Show

WSAU Wisconsin Morning News   5:00 AM - 8:00 AM

Seth Mela, Tom King and Chris Conley

Show Info »

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 550 AM Wausau, WI 99.9 FM Stevens Point, WI

Weather

Current Conditions(Wausau,WI 54403)

More Weather »
40° Feels Like: 40°
Wind: ESE 3 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Partly Cloudy 60°

Tonight

Partly Cloudy 42°

Tomorrow

PM Rain 64°

Alerts

SAC Capital plea deal may come early next week: WSJ

An exterior view of the headquarters of SAC Capital Advisors, L.P. in Stamford, Connecticut, in this picture taken December 13, 2010. REUTER
An exterior view of the headquarters of SAC Capital Advisors, L.P. in Stamford, Connecticut, in this picture taken December 13, 2010. REUTER

NEW YORK (Reuters) - The settlement U.S. prosecutors are hammering out with SAC Capital Advisors, Steven A. Cohen's multibillion-dollar hedge fund, over criminal charges related to insider trading could be announced early next week, the Wall Street Journal reported on Tuesday.

Reuters had previously reported that the deal, which will likely involve some admission of guilt along with a penalty of more than $1 billion, was likely to be announced within days.

Negotiations have been underway for several weeks. Any settlement would be a blow to Cohen and his reputation as one of the greatest stock traders of his generation. But people familiar with the billionaire trader told Reuters he has been telling people he is looking to put the nearly seven-year long investigation of his firm behind him.

The payment to the government would be structured as both penalty and forfeiture of trading profits allegedly derived from improper trading by Cohen's hedge fund, the person familiar with the matter said.

A spokeswoman for U.S. Attorney Preet Bharara declined to comment. A spokesman for SAC Capital also declined to comment.

(Reporting By Emily Flitter; Editing by Tim Dobbyn)

Comments