Steve Cohen Reassures Investors on Probe

Steve Cohen, head of the $12 billion SAC Capital hedge fund, has assured his investors that they will suffer “no financial impact” as a result of a wide-ranging federal investigation into insider trading on Wall Street. SAC has been subpoenaed along with several other hedge funds and mutual funds as part of the investigation by Preet Bharara, the US attorney in Manhattan. Neither SAC nor any of its employees have been accused of wrongdoing. – FT

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