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SAC Capital Accuses Securities and Exchange Commission Of Failing To Understand The Meaning Of 'Exceptional Supervisory Structure'

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Sayeth SAC:

"The S.E.C.'s administrative proceeding has no merit. Steve Cohen acted appropriately at all times and will fight this charge vigorously. The S.E.C. ignores SAC's exceptional supervisory structure, its extensive compliance policies and procedures, and Steve Cohen's strong support for SAC's compliance program."