No-Fault Settlement with SAC Capital Conditioned on Outcome of Citi Case

Federal Judge Victor Marrero has conditionally approved a $602 million insider trading settlement between SAC Capital Advisors and the SEC, but questioned the SEC's "neither admit nor deny" settlements and cited Judge Jed Rakoff's refusal to sign off on a $285 million deal between Citigroup and the SEC. Marrero also took the unusual step of conditioning final approval of the SAC deal on the outcome of the appeal in the Citi case.

Source: http://www.law.com/jsp/law/sign_me_in.jsp?article=http://www.americanlawyer.com/digestTAL.jsp?id=1202596289660&rss=newswire

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