{"id":41150,"date":"2014-03-14T08:26:57","date_gmt":"2014-03-14T12:26:57","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=41150"},"modified":"2014-03-14T08:32:00","modified_gmt":"2014-03-14T12:32:00","slug":"sac-affiliate-settles-sec-insider-trading-charges","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2014\/sac-affiliate-settles-sec-insider-trading-charges.html","title":{"rendered":"SAC Affiliate Settles SEC Insider Trading Charges"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/10\/sec_building.gi_.top_.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-25666\" alt=\"sec_building.gi.top\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/10\/sec_building.gi_.top_-300x208.jpg\" width=\"300\" height=\"208\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/10\/sec_building.gi_.top_-300x208.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/10\/sec_building.gi_.top_.jpg 495w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>New York (HedgeCo.Net) &#8211; Ronald Dennis, who worked at\u00a0Steven A. Cohen&#8217;s SAC affiliated\u00a0CR Intrinsic Investors has settled with the SEC on\u00a0insider trading charges, Reuters reports.<\/p>\n<p>Ronald Dennis agreed to be barred from the securities industry and pay more than $200,000 to settle the SEC\u2019s charges. The trader\u00a0enabled hedge funds managed by CR Intrinsic and SAC Capital to generate approximately $3.2 million in profits and avoided losses in Dell stock, according to the SEC.<\/p>\n<p>\u201cLike several others before him at SAC Capital and its affiliates, Dennis violated the insider trading laws when he exploited confidential information about public companies, in this case Dell and Foundry, to unjustly benefit the firms and enrich himself,\u201d said Sanjay Wadhwa, senior associate director of the SEC\u2019s New York Regional Office. \u00a0\u201cHis actions have cost him the privilege of working in the hedge fund industry ever again.\u201d<\/p>\n<p>The SEC alleges that Ronald N. Dennis got illegal tips from two friends who were fellow hedge fund analysts.\u00a0 They provided him confidential details about impending announcements at Dell Inc. and Foundry Networks.\u00a0 Armed with inside information, Dennis prompted illegal trades in Dell and Foundry stock and enabled hedge funds managed by SAC Capital and affiliate CR Intrinsic Investors to generate illegal profits and avoid significant losses.<\/p>\n<p>Alex Akesson<br \/>\nEditor for\u00a0<a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.Net<\/a>\u00a0is a premier\u00a0<a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\/\">hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; Ronald Dennis, who worked at\u00a0Steven A. Cohen&#8217;s SAC affiliated\u00a0CR Intrinsic Investors has settled with the SEC on\u00a0insider trading charges, Reuters reports. Ronald Dennis agreed to be barred from the securities industry and pay more than $200,000 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,16034,3],"tags":[],"class_list":["post-41150","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-fraud","category-hedge-fund-rulings","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/41150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=41150"}],"version-history":[{"count":7,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/41150\/revisions"}],"predecessor-version":[{"id":41157,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/41150\/revisions\/41157"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=41150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=41150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=41150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}