A U.S. judge on Tuesday raised a series of questions about a proposed $1.2 billion insider trading accord with billionaire Steven Cohen's investment firm, formerly known as SAC Capital Advisors, in advance of its sentencing on Thursday. U.S. District Judge Laura Taylor Swain in Manhattan issued an order directing the parties to address how to calculate the proposed penalty and the qualifications of a newly appointed compliance consultant. The judge also asked if the government's conclusions about SAC Capital's profits and avoided losses take into account activities by "all culpable persons" or just the eight employees already convicted on insider trading charges. The order came ahead of a hearing Thursday in which Swain is expected to weigh whether to accept SAC Capital's November guilty plea to fraud charges and approve a fine of $900 million, part of a $1.2 billion deal unveiled last year. The sentencing is expected to mark the end of an era for SAC Capital, which on Monday
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