Steve Cohen's $14 billion SAC Capital Advisors broke its radio silence moments ago to respond to today's federal indictment against the firm on criminal charges of insider trading.
Via CNBC's Kayla Tausche:
"SAC has never encouraged, promoted or tolerated insider trading and takes its compliance and management obligations seriously. The handful of men who admit they broke the law does not reflect the honesty, integrity and character of the thousands of men and women who have worked at SAC over the past 21 years. We will continue to operate as we work through these matters."
According to Bloomberg News, SAC sent out another statement saying the government's action is not intended to affect ongoing operations or redemptions. SAC expects an agreement with the government to protect client interestes.
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