Former SAC portfolio manager charged with insider trading


The US Securities and Exchange Commission has charged former SAC employee Richard Lee with insider trading. The charges follow SAC itself being indicted on criminal charges for insider trading.

Lee's charges relate to insider trading concerning technology companies that saw him generate profits of $1.5 million for SAC. The trades were carried out ahead of public announcements about a Microsoft-Yahoo partnership and the acquisition of 3Com Corporation by Hewlett-Packard. Lee carried out trades on

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