SAC Capital Advisors LP, the $14 billion hedge fund run by Steven A. Cohen, plans to hold a conference call with clients tomorrow, according to an investor who asked not to be named because the information is private. SAC executives have reached out to the firm’s largest investors to calm concern about Cohen’s trading in Elan Corp. and Wyeth LLC after prosecutors for the first time tied the hedge-fund founder to a specific transaction at the center of an insider-trading investigation. [Bloomberg, related, earlier]
SAC Capital Invites Employees To Gather 'Round For A Chat That Could Simply Be To Notify Everyone They're Switching Fleece Manufacturers
What? Anything is possible and that would be grounds for an all-staff call. You don't know.