(Bloomberg) — Former SAC Capital Advisors LP analyst Ron Dennis was sued by the U.S. Securities and Exchange Commission over claims he was involved in an insider-trading scheme that also included Michael Steinberg, the former SAC manager convicted in December.
Dennis helped the hedge fund make at least $2.7 million, including through losses avoided on trades, according to the complaint filed today in federal court in Manhattan. Dennis agreed, without admitting liability, to pay $200,000 to settle the lawsuit, according to a court filing.
