Cohen's SAC to pay $616 million in SEC insider trade settlement

By Jonathan Stempel and Katya Wachtel (Reuters) - Hedge fund titan Steven A. Cohen's firm is paying $615.7 million (407.2 million pounds) to settle charges that it improperly traded in two stocks, in what is the largest-ever, insider trading settlement, U.S. securities regulators said on Friday. SAC Capital Advisors has long been the focus of a federal insider trading probe, and the settlement removes a major distraction that had prompted some investors to pull their money out of the $15 billion hedge fund. But it does not end the scrutiny as the U.S. ...