SEC Charges CR Intrinsic Analyst with Insider Trading

The SEC charged a former analyst at an affiliate of S.A.C. Capital Advisors with insider trading based on non-public information that he obtained about a pair of technology companies.

The SEC alleged that Ronald N. Dennis received illegal tips from two friends who were fellow hedge fund analysts. With the non-public information, Dennis prompted illegal trades in Dell and Foundry stock, and enabled hedge funds managed by S.A.C. Capital and its affiliate, CR Intrinsic Investors, to generate illegal profits and avoid significant losses.

See: SEC Complaint.