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The Boston Globe

Business

SAC Capital units settle with SEC for $614m

NEW YORK — Two affiliates of SAC Capital, the giant hedge fund, settled insider trading charges with the Securities and Exchange Commission for $614 million on Friday, in what the agency said was the biggest ever settlement for such cases.

The settlements spare SAC’s founder, the billionaire Steven A. Cohen, who has not been charged with wrongdoing. Cohen, one of the most successful hedge fund managers in the world, has long been considered a target of federal investigators.

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