Pfizer Gets $29 Million of SAC Capital Insider Trade SEC Payout

Pfizer Inc. reached a deal with the Securities and Exchange Commission in which the drugmaker would collect $29 million to end a long-running dispute over an insider trading action involving Steven A. Cohen’s former hedge fund.

Cohen’s SAC Capital Management paid around $602 million in 2013 to settle the SEC’s claims over an ex-employee who sold shares of Pfizer’s Wyeth LLC and Elan Corp.—a deal largely paid out to harmed investors and the US Treasury, leaving $75 million remaining in the SEC’s fair fund.

Pfizer was appealing a 2024 ruling from Judge Victor Marrero in the US District Court for ...