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The Boston Globe

Business

SEC prepares civil case against SAC

Federal regulators are preparing a civil fraud case against SAC Capital Advisors, the $14 billion hedge fund run by the billionaire investor Steven A. Cohen, according to a call that he held with the fund’s investors on Wednesday morning.

SAC said it had received a so-called Wells notice from the Securities and Exchange Commission, an indication that the agency was considering an enforcement action against the hedge fund.

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