One of the most significant criminal indictments in a series of high-profiled government attacks on insider trading was announced by federal prosecutors Thursday, July 25, reported USA Today. The article titled, “Huge Hedge Fund Indicted: Prosecutors Charge Illegal Insider Trading,” discussed SAC Capital Advisors, Steven Cohen’s nationally famed hedge fund’s success and the 41-page indictment that depicted a corporate structure and culture of insider trading.

The indictment, many financial and legal experts believe, could speed the outflow from SAC Capital, which until recently held an estimated $15 billion.

“There’s a great likelihood they will continue to lose investors,” said Stuart P. Slotnick, chair of the New York Business Litigation Section at Buchanan Ingersoll & Rooney.

SAC has said they will continue operations while challenging the charges.
Read the full article – “Huge Hedge Fund Indicted: Prosecutors Charge Illegal Insider Trading” (USA Today, July 26, 2013)