Bernstein Liebhard LLP today announced that it is investigating SAC Capital, the investment adviser of SAC Capital hedge funds, for its alleged mismanagement of the limited partnership and certain hedge funds that hold over $14 billion in assets. SAC Capital Advisors and certain of its affiliates and principals (together “SAC”) are the subject of both criminal and civil investigations by the Department of Justice and the Securities and Exchange Commission, respectively, for their alleged practice of procuring insider information and illegally trading on that information on a U.S. stock exchange. In particular, an SAC Capital portfolio manager is under investigation for allegedly receiving from a doctor confidential data on a drug trial. This secret information, authorities say, allowed SAC to earn profits and avoid losses totaling $276 million, which prosecutors called the most lucrative insider trading ever uncovered.
If you are interested in discussing your rights as an investor in one of the SAC funds or affiliates listed below and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or seidman@bernlieb.com.
List of SAC Hedge Funds and affiliates of interest:
- CR Intrinsic Investors, LLC
- S.A.C. Capital Advisors, L.P.
- S.A.C. Capital Advisors, Inc.
- SAC Capital Management
- SAC Capital International
- SAC Global Diversified
- SAC Multi-Strategy
- Canvas Capital
- SAC Capital Associates
- SAC Meridian
- SAC MultiQuant
- SAC Select
- Sigma Capital Management
- S.A.C. Global Investors LLP, formerly Walter Capital Management
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last ten years.
