March 13 A former analyst affiliated with
billionaire Steven Cohen's SAC Capital Advisors LP has agreed to
pay more than $203,000 and be banned from the securities
industry to settle insider trading charges by the U.S.
Securities and Exchange Commission.
Ronald Dennis, who worked at SAC's CR Intrinsic Investors
unit, was accused of enabling SAC and CR hedge funds in 2008 and
2009 to generate about $3.8 million of illegal profits and
avoided losses in Dell Inc and Foundry Networks Inc based on
inside information he had received about the companies.
Dennis did not admit or deny the allegations in the SEC's
His lawyer, Lawrence Gerschwer, had no immediate comment.