By Bob Van Voris, Bloomberg News
A judge approved the $135 million settlement to a group of investors by SAC Capital Advisors LP to resolve the final insider trading claims against Steven A. Cohen’s former investment company.
The ruling Friday ends a lawsuit in which Elan Corp. shareholders claimed they lost money because of insider trading in the company’s shares. U.S. District Judge John Koeltl ruled that the settlement is “fair, adequate and reasonable.”
Mathew Martoma was convicted in 2014 of making $275 million for SAC Capital on trades in Wyeth and Elan. Martoma is serving a nine-year prison sentence ...
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