June 18, 2014 / 8:45 PM / in 4 years

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

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

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