SAC Capital Advisors in a harsh spotlight
The secretive hedge fund SAC Capital Advisors, run by Stephen Cohen, is taking some big media hits. 60 Minutes ran a lengthy piece on its battle with Biovail, which has sued the hedge fund and is more than willing to discuss the issues publicly. Its take is that SAC conspired with a so-called independent research outfit to produce damaging reports and then pushed the firm to delay release of the report so it could build a short position.
> A New York Times article echoes the charges.
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