March 13, 2014 / 8:52 PM / 3 years ago

Ex-analyst at SAC affiliate settles SEC insider charges

1 Min Read

March 13 (Reuters) - 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 civil lawsuit.

His lawyer, Lawrence Gerschwer, had no immediate comment.

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