ML-Implode News - Investors in Steven Cohen's SAC May Face Clawbacks

After Cohen's ex-wife filed a lawsuit including allegations that Cohen engaged in insider trading in the 1980's, investigative journalist Matthew Goldstein dug further. In late 2009, he wrote a document-based expose that Reuters' lawyers approved. According to an exclusive story by Chris Roush at Talking Biz News, "Cohen repeatedly called Devin Wenig, CEO of the Thomson Reuters Markets Division and the No. 2 executive at Thomson Reuters, to complain." The multi-billionaire claimed he was being persecuted. Editors at Reuters killed the story.
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Fund managers that invested with SAC must be quacking in their Gucci's. Investors paid them high fees and expected them to perform first-class due diligence before placing funds under Cohen's management. Yet serious questions have swirled around Cohen's trading practices for more than a decade... If the SEC can prove its case and find that SAC's gains were the result of a criminal activity, investors will likely face clawbacks. If investors accessed SAC through a fund of funds or a multi-advisor fund, they will likely sue the managers of those funds.

Relevant:

Investors in Steven Cohen's SAC May Face Clawbacks - Janet Tavakoli