Last November, when federal prosecutors were circling SAC Capital Advisors over insider trading allegations, one newspaper referred to SAC general counsel Peter Nussbaum as "a large supply of shark repellent."
But Nussbaum's brand of protection weakened in July, when the feds indicted the company on five criminal counts. And now the GC is in a battle to save the Stamford, Connecticut, company and its owner, Steven Cohen, from losing everything.The SAC indictment by U.S. Attorney Preet Bharara in Manhattan charges various corporate entities—all part of the SAC group—with criminal responsibility for insider trading.. An SAC spokesman said in a statement to The New York Times, "The handful of men who admit they broke the law does not reflect the honesty, integrity, and character of the thousands of men and women who have worked at SAC over the past 21 years."
