April 10, 2014 / 3:50 PM / in 4 years

U.S. judge says will accept SAC Capital guilty plea

NEW YORK, April 10 (Reuters) - A federal judge agreed to accept SAC Capital Advisors’ guilty plea to fraud charges in the government’s insider trading case against the hedge fund firm controlled by billionaire Steven A. Cohen.

U.S. District Judge Laura Taylor Swain said she will accept the plea at a Thursday hearing in Manhattan federal court.

She is also reviewing other issues at the hearing, including whether to accept SAC Capital’s agreement to pay a $900 million fine.

Cohen renamed his firm on Monday, and it is now known as Point72 Asset Management. (Reporting by Nate Raymond in New York)

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