The SEC announced today that hedge fund advisory firm CR Intrinsic Investors has agreed to pay more than $600 million to settle an SEC lawsuit alleging that CRII “participated in an insider trading scheme involving a clinical trial for an Alzheimer’s drug being jointly developed by two pharmaceutical companies” (Elan and Wyeth). CRII is an affiliate of S.A.C. Capital Advisors. According to the SEC, the settlement (which has its own infographic!) is the largest ever in an SEC insider trading case.
