This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Insider Trading Probe Widens to SAC, Janus

Story updated to include SAC Capital information and Janus statement.

NEW YORK ( TheStreet) -- Several money management firms, including Steven Cohen's SAC Capital, were contacted by federal authorities Tuesday in a burgeoning probe of insider trading in the money management industry.

SAC Capital issued a letter to investors stating that it has received an "extraordinarily broad" government subpoena, according to MarketWatch.

A call to SAC's offices was not immediately returned.

Janus Capital Group (JNS - Get Report) received a request for information, a company spokesperson confirmed.

"Janus Capital Group has received an inquiry calling for general information and intends to cooperate fully with that inquiry," a firm spokesperson said in an emailed statement. "Janus maintains rigorous compliance procedures and Janus has confidence in the integrity of its processes and its people."

Janus is a publicly traded money management firm with $160.8 billion in assets under management, according to the firm's Web site.

Boston-based Wellington Management Co. received a request for "documents" from federal investigators, according to a report by Bloomberg that cited a person familiar with the firm. The article states the request for documents was disclosed on "an internal conference call" but did not explain the firm's role in the probe.

A call to a Wellington spokesperson for comment was not returned.

According to the firm's Web site, Wellington is an investment adviser with $598 billion in assets under management. The firm is described as a private partnership that has more than 1,800 institutional clients.

The insider trading investigation was first reported by The Wall Street Journal Saturday. Several hedge fund offices were searched by the Federal Bureau of Investigation on Monday, including Level Global Investors, Diamondback Capital Management and Loch Capital Management.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
JNS $14.34 1.50%
AAPL $92.69 -0.59%
FB $119.49 1.43%
GOOG $711.11 1.40%
TSLA $214.93 1.61%


Chart of I:DJI
DOW 17,740.63 +79.92 0.45%
S&P 500 2,057.14 +6.51 0.32%
NASDAQ 4,736.1550 +19.0610 0.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs