LawFuel.com – “After due consideration, the Court has accepted the guilty plea and imposed sentence on SAC,including the payment of $1.184 billion in financial penalties. Today marks the day of reckoningfor a fund that was riddled with criminal conduct. SAC fostered pervasive insider trading andfailed, as a company, to question or prevent it. So far, this Office has successfully convicted
eight SAC employees of insider trading, and when so much criminal conduct takes place within
one institution, it is appropriate to impose criminal liability on the institution itself. Today’s
sentence affirms that when institutions flout the law in such a colossal way, they will pay a heavy
price.”
14-103 ###
