BRIEF-U.S. judge OKs SAC Capital settlement with SEC, offers guidance for future settlements

June 18 Wed Jun 18, 2014 4:42pm EDT

June 18 (Reuters) - * U.S. judge approves SEC's $602 million settlement with cr intrinsic unit of

Steven A. Cohen's sac capital advisors -- court ruling * U.S. district judge victor marrero says proposed settlement is legal, is

clear, resolves the alleged charges, and is not tainted by collusion or

corruption * Marrero says the case calls attention to the importance of a more "rigorous

inquiry" by the SEC in approving "neither admit nor deny" civil settlements

when there are parallel criminal cases * Marrero says "there may be value in a wait-and-see approach" before rushing

into "neither admit nor deny" settlements * Marrero says judges considering "neither admit nor deny" settlements may want

to delay approving them until parallel criminal litigation is finished

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.