Steve Cohen's Court date has been set for August 26th, but before he defends himself against the SEC, he defended himself to his employees at SAC Capital yesterday.
On Friday the SEC charged him with failing to supervise his employees and ignoring red flags about their alleged insider trading activities. If convicted, he could be banned from managing other people's money for life.
Cohen handed out this 46 page white paper explaining his innocence, the WSJ first reported. In it, he claims the SEC's charges are "baseless" and that he didn't see key e-mails that would've tipped him off to illegal activity.
Cohen, the report says, receives thousands of e-mails and instant messages a day and had every reason to believe that the information he recieved from alleged insider trader Mathew Martoma had been learned legally.
Read the full white paper below.
SAC White Paper by Jordan Golson
Join the conversation about this story »
     |