Two affiliates of hedge fund giant SAC Capital have agreed to pay a total of more than $615 million to the U.S. Securities and Exchange Commission to settle insider-trading charges, in what the SEC called the largest-ever insider-trading settlement.
One of the affiliates, CR Intrinsic Investors, was accused of engaging in an insider-trading scheme involving a new Alzheimer’s drug being developed by pharmaceutical companies Elan Corporation and Wyeth.
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