| NEW YORK
NEW YORK Nov 27 Steven A. Cohen's SAC Capital
Advisors, facing fresh scrutiny after a former employee was
charged with illegal insider trading, plans to hold a conference
call on Wednesday, two people familiar with the hedge fund said
The $14 billion fund, known for delivering decades of strong
and steady returns, has worked to calm investors' nerves over
the last week since news broke that a former portfolio manager,
Mathew Martoma, allegedly used non-public information to trade
in healthcare stocks Elan and Wyeth, now owned by Pfizer
News of the investor call was earlier reported by Bloomberg
The latest arrest raises the number of charged former SAC
employees to five, but the hedge fund's founder, Steven Cohen,
has not been accused of any wrongdoing.
But prosecutors have said in court papers that the "owner"
of the hedge fund signed off on Martoma's recommendation to sell
the shares of Elan and Wyeth.
A spokesman for SAC Capital said last week that "Mr. Cohen
and SAC are confident that they have acted appropriately and
will continue to cooperate with the government's inquiry."
The Stamford, Connecticut-based firm is not known to hold
regular investor calls, and the news has created buzz all over
Wall Street. One person on social network Twitter published what
he said was the dial-in number to the call, but that number rang
through to the Federal Reserve Bank of New York.
(Reporting By Svea Herbst-Bayliss; Additional reporting by
Katya Wachtel; Editing by Jan Paschal)