Steve Cohen Has Nothing To Say To You!

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Steven A. Cohen, summoned to testify before a grand jury about allegations of insider trading at his SAC Capital Advisors LP, invoked his Fifth Amendment right not to incriminate himself, said two people familiar with the matter. It wasn’t clear if Cohen, 57, had invoked his right to testify before the grand jury or had been excused from appearing after informing prosecutors of using the privilege, said the people, who asked not to be identified because the information is private. “I wouldn’t have recommended that he goes in to testify given how this looks like the government is trying to build a case around Cohen, rather than investigate one,” said Thomas Gorman, a partner at law firm Dorsey & Whitney LLP in Washington. “It just seems that the government is reaching for a theory to support their beliefs.” [Bloomberg]

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