What do the criminal charges mean for SAC?
Prosecutors are in effect trying to force SAC Capital out of the professional money management business. A guilty verdict would make it difficult for banks and brokers to trade with or lend money to the firm, and would prevent SAC from managing money for others. SAC maintains that it has done nothing wrong, however, and for now the banks and brokers with which it trades have taken an innocent until proven guilty stance, sticking with a longstanding and lucrative client, reassured by the $9bn of capital owned by Mr Cohen and his staff. Outside investors are unlikely to hang around, however.
What are the implications for Steven Cohen?
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