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FBI Raids Hedge Fund Offices in Insider Trading Probe

HeadlineNov 23, 2010

FBI agents raided the offices of three large hedge funds in New York, Connecticut and Massachusetts Monday as part of a major probe into insider trading. Two of the hedge funds are run by former managers of Steve Cohen’s giant SAC Capital Advisors hedge fund. In related news, the value of Goldman Sachs stock dropped more than three percent on Monday on reports that federal investigators are examining whether Goldman bankers had leaked information about deals.

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