X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

In an attempt to resolve a high-profile insider trading indictment filed in July 2013, S.A.C. Capital Advisors and its related entities (SAC) entered into a binding plea agreement with the government. Under that agreement, which is subject to court approval, SAC is required to pay a cumulative fine of $1.8 billion (including $616 million previously paid to settle two parallel SEC actions), plead guilty to all five counts in the indictment, and terminate its investment advisory business. In light of the unprecedented financial penalty, coupled with the requirement that each defendant admit that at least one employee engaged in insider trading, court approval of the agreement would appear to be a foregone conclusion. U.S. District Judge Laura Taylor Swain, however, in considering the portion of the plea agreement relating to the criminal fine, decided that she would defer judgment on whether or not to accept the plea until March 2014 in order to have additional time to review the plea agreement and allow a pre-sentence report to be filed before rendering her decision.1 Judge Swain’s decision to postpone her ruling likely stems in part from the fact that the parties presented her with a binding plea agreement under Rule 11(c)(1)(C) of the Federal Rules of Criminal Procedure. Swain can only accept or reject the binding plea agreement, and if she decides to accept the plea agreement she cannot alter the penalties imposed on SAC.

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at customercare@alm.com

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2017 ALM Media Properties, LLC. All Rights Reserved.