Six Years After Crackdown, U.S. Set for Another Insider Trial

July 10, 2019, 6:09 PM

Six years after his case was hailed as the centerpiece of an insider-trading crackdown against SAC Capital Advisors LP, prosecutors said July 10 they’re ready to take a former fund manager to trial, just weeks after a federal judge tossed his guilty plea.

Richard S. Lee pleaded guilty in July 2013, days before then-U.S. Attorney Preet Bharara unveiled a sweeping indictment that alleged SAC Capital orchestrated a massive insider-trading scheme. Lee was one of at least eight SAC fund managers or analysts who were charged criminally in the government’s attack on illicit trading.

But after a series of court rulings ...

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