Hedge fund firm pays $600 million to settle insider trading charges

National

Darkness fell on an Oklahoma City suburb gripped by a frantic search for pupils, teachers and staff in an elementary school flattened by a tornado.Parents raced to Plaza Towers Elementary in Moore, Okla.Today 5:21 am

Monster tornado slams Oklahoma City suburbs

A monstrous tornado at least a half-mile wide roared through the Oklahoma City suburbs Monday, flattening entire neighborhoods and destroying an elementary school with a direct blow as children and teachers huddled against winds up toToday 5:21 am

In tornado’s wake, worried parents seek out kids

MOORE, Okla. – The parents and guardians stood in the muddy grass outside a suburban Oklahoma City church, listening intently as someone with a bullhorn called out the names of children who were being dropped off – survivorsToday 5:20 am

WASHINGTON – A hedge fund company will pay more than $600 million in what federal regulators are calling the largest insider trading settlement.

The Securities and Exchange Commission said Friday that CR Intrinsic Investors has agreed to settle charges that it traded on non-public information about trials of an Alzheimer’s drug.

The commission also settled charges against Sigma Capital Management for $14 million. Sigma allegedly profited illegally from early information about the earnings of two technology companies.

The cases stem from a long-running probe of insider trading by hedge funds, many of which are affiliated with SAC Capital Partners. CR Intrinsic was an affiliate of SAC. A separate SAC affiliate fund allegedly benefited from Sigma’s actions.