Reported about 9 hours ago
Pfizer has filed an appeal against a federal judge's decision denying the pharmaceutical company $75.2 million from a long-standing insider trading settlement involving Steven A. Cohen's former hedge fund, SAC Capital. The funds were part of SAC's $602 million settlement with the SEC over trades related to Wyeth and Elan, and Pfizer argues it is entitled to the amount due to a neurologist's conflict of interest during a drug trial. However, the judge ruled that Wyeth was not a victim in this case.
Source: YAHOO