DOJ: SAC $1.8bn confession shows no institution 'too big to jail'
This article was originally published in Scrip
Executive Summary
In reeling in the agreement for a guilty plea for insider trading from Stamford, Connecticut-based SAC Capital Advisors – one of the world's largest hedge funds, which up until recently, managed portfolios of over $15bn – Manhattan US Attorney Preet Bharara put Wall Street on notice: "No institution should rest easy in the belief that it is too big to jail."
You may also be interested in...
Moderna's Valera Takes mRNA Approach To Combat Zika
With new funding in hand, Moderna and its infectious disease venture Valera are going full-speed ahead with a Zika vaccine, taking an mRNA approach, which they said could be a more rapid strategy to try to stop the disease.
Allergan's Price Reform Pledge: Will Others Follow?
Allergan CEO Brent Saunders vows not to engage in price gouging and says his firm will limit cost increases to single-digit percentages, occurring only once per year. But it's unclear whether Saunders will stand as a lone wolf in the industry or if others will make similar pledges.
Clinton's Drug Price Plan: Threat Or Flash In The Political Pan?
Hillary Clinton's plan to rein in high prices of older medicines, which includes creating a federal panel that has authority to impose fines, may grab headlines, but some analysts think it's unlikely to get very far in a divided Washington.