STAMFORD, CT : The headquarters of SAC Capital is viewed on July 27, 2013 in Stamford, Connecticut. U.S. Attorney for the Southern District of New York Preet Bharara and Assistant Director-in-Charge of the New York Field Office of the FBI announced insider trading charges against SAC Capital on July 25, 2013 in New York City.- AFP
NEW YORK: Lawyers for Steven A. Cohen's hedge fund, SAC Capital Advisors, reached a formal agreement with federal prosecutors to allow the hedge fund to continue to operate while the criminal case against it proceeds, according to a source briefed on the matter.
According to the source, SAC will be required to hold on to the vast majority of the assets it manages for Cohen. The source declined to speak on the record because the agreement has not yet been approved by a judge.
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