It looks like the SEC is casting a wider net in insider trading. This time Steve Cohen who runs SAC Capital Advisors has been caught in the dragnet according to business week:
Cohen, 56, was recently deposed by Securities and Exchange Commission investigators in New York about trades made close to news such as mergers and earnings that generated profits for his fund, said one of the people, who asked not to be identified because the investigation isn’t public. Neither Cohen nor Stamford, Connecticut-based SAC Capital, which oversees about $14 billion, has been accused of wrongdoing.
But not to worry, SAC seems to have no problems attracting investment:
Cohen’s main fund, SAC Capital International Ltd., saw net deposits in 2011 before he closed it to new investments in August, people with knowledge of the matter said at the time. The fund raised $2.8 billion from June 2009 through October 2011.