Former Goldman Sachs Group Inc (GS.N) director Rajat Gupta on Tuesday began serving his two-year prison term for insider trading.
Rajat Gupta is the highest-ranking corporate official to be convicted in the government's probe of insider trading in the hedge fund industry.
The retailer's stock spiked 9 percent after Icahn made his investment public.
Expect an appeal from Michael Steinberg, who was also fined $2 million.
A hearing is set on Friday to sentence Steinberg. Prosecutors say he should serve up to six and half years for trading on inside information.
The case marks the first time the SEC reached a so-called "non-prosecution" agreement with an individual - an unnamed trader.
At a hearing in Manhattan federal court, U.S. District Judge Laura Taylor Swain accepted SAC Capital's guilty plea to fraud charges and payment of a $900 million fine.
Prosecutors said the deal is the largest insider trading settlement in U.S. history - one that resulted in a rare guilty plea by a large company.
FBI Investigates High-Speed Trading Companies To Check If They Used Insider Information Unavailable To Other Investors
Since October 2009, 90 people have been charged for insider trading, of whom 79 have pleaded guilty or have been convicted at trial.
Preet Bharara Chalked Up Yet Another Victory For Himself And The State Department Of New York, But Markets Speculate This Is Not The End To The SAC Saga
During Mathew Martoma's trial, a witness testified that the feds were “really after a man named Steven A. Cohen.”
Shares of "NEST" jumped 1,900 percent after investors confused the penny stock with Nest Labs.
Devyani Khobragade Row: Secretary Of State John Kerry Expresses ‘Regret,’ While US Prosecutor Defends The Arrest
The U.S. attorney in Manhattan criticized India for focusing solely on the official’s arrest and not on the underpaid victim's plight.
Today In Finance: "London Whale" (JPM) Prosecution Hits Another Delay, And Treasury Secretary Tells Banks To Get Ready For Tough Trading Rule
Employees of Bernie Madoff's firm sought the loan, which was twice its credit at the time, according to a published report.
Ex-U.S. Army Sergeant Joseph Hunter, International Team Of Ex-Soldiers Indicted For Allegedly Trying To Kill DEA Agent, Informant
The allegations against Joseph Hunter and four former soldiers "read like they were ripped from the pages of a Tom Clancy novel," according to Manhattan U.S. Attorney Preet Bharara.
Analyst Sandeep Aggarwal Arrested By FBI, Faces Civil And Criminal Penalties For Insider Trading Linked To SAC Capital Indictment
The SEC and U.S. Attorney’s Office says Aggarwal bought shares in the Yahoo-Microsoft deal using his contacts at Microsoft.
Hedge fund SAC Capital pleaded not guilty to charges of rampant insider trading, but a former insider threatens to blow open the continuing investigation.
Richard Lee, 34, has emerged as an unlikely insider for the government's insider trading investigation.
SAC, with assets of about $15 billion, has been subjected to years of federal probes into suspected securities fraud dating back to 2006.
Federal prosecutors are poised to lodge criminal charges as soon as this week against SAC Capital Advisors, The Wall Street Journal reports.
Hedge Fund Manager And SEC's Top Target Steven Cohen Explains, In A 46-Page White Paper, Why He's Not A Bad Guy
Steve Cohen is charged with failing to supervise traders.
SEC Says Steven A. Cohen Failed To Supervise His Portfolio Managers And Will Attempt To Bar Billionaire From Overseeing Investor Funds
Cohen "received highly suspicious information that should have caused any reasonable hedge fund manager to investigate," the SEC said.
The SEC also banned the former director, Rajat Gupta, from serving as a director or officer of any public or private company.
Younger Wall Streeters are more likely than their elders to accept illegal and unethical conduct in their industry, a survey finds.
The SAC founder may escape federal prosecution in one of his insider trading scandals, but investigators press on in other cases.
Rajaratnam was convicted in 2011 for massive securities fraud in the biggest-ever U.S. hedge fund insider trading scheme.
One of Sen. Charles Grassley’s aides has been targeted by the FBI in a probe related to an April health care announcement.
The insider trading trial of Mathew Martoma, a former hedge fund portfolio manager for SAC Capital Advisors, is set for November.
KPMG Insider Trading Scandal: Crisis Continues As SEC Charges 'Rogue' Trader And Identifies 'Stupid' Investor In Latest Development For Troubled Firm
Bryan Shaw and Scott London call themselves "stupid" for offering insider trading secrets for $50K.
KPMG disclosed that a senior Los Angeles partner was fired for disclosing inside information to an unidentified individual.
Troubled trading firm SAC was hit with insider-trading charges again as one of its managers was arrested Friday.