Lawyers for SAC Capital Advisors called a meeting with U.S. prosecutors and agents from the Federal Bureau of Investigation in April to argue that there should be no insider trading charges filed against the $15 billion hedge fund or its founder Steven A. Cohen, according to sources familiar with the matter.
Lawyers for the firm made an "aggressive presentation," according to the sources, reviewing the government's investigation trade-by-trade to support their claim that the government did not have enough evidence to charge Cohen.
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A lawyer for SAC Capital could not be reached for comment. Representatives of the FBI declined to comment.
(Reporting by Emily Flitter and Matthew Goldstein; Editing by Gerald E. McCormick)