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QUITTING?

SAC May Close Fund

Billionaire Steve Cohen may be throwing in the towel. After a five year investigation into his firm SAC Capital Advisors over insider-trading charges, Cohen has reportedly considered proposing a deal with prosecutors to shut down his hedge-fund to outside investors and admit wrongdoing, but would not be prosecuted unless SAC broke the law again. The firm would then focus solely on managing Cohen’s personal fortune. Unknown is whether federal prosecutors would be satisfied without a conviction of Cohen himself.

May 21, 2013 9:24 AM