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SAC initiates settlement talks with the government

Source: Bloomberg

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Lawyers for hedge fund SAC Capital Advisors last week reached out to prosecutors in New York to say that SAC founder Steven Cohen is interested in settling the civil and criminal cases against him and his company, according to people familiar with the matter. The settlement of the criminal case against the firm would likely involve a substantial fine, these people said; the current number being discussed is in the neighborhood of $1 billion.

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