Deal with prosecutors would make SAC end advisory business: filing
NEW YORK (Reuters) - The deal U.S. prosecutors have reached with SAC Capital Advisors would, if approved, require the hedge fund to pay $1.8 billion, terminate its investment advisory business and install an independent, government-approved monitor in order to settle charges related to insider trading, according to a court filing.
U.S. prosecutors on Monday filed a letter describing the deal to the judges in a pair of cases - one criminal, the other a civil forfeiture action - against SAC Capital stemming from a massive insider trading investigation. The judges would have to approve the deal.
(Reporting by Emily Flitter; Editing by Gerald E. McCormick)
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