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U.S. Court Doesn't Rule on SAC Capital's SEC Settlement

A U.S. judge ended a hearing on the U.S. Securities and Exchange Commission's proposed $602 million settlement with a unit of SAC Capital Advisors without making a decision on whether to approve it.

NEW YORK, March 28 A U.S. judge ended a hearing on the U.S. Securities and Exchange Commission's proposed $602 million settlement with a unit of SAC Capital Advisors without making a decision on whether to approve it.

U.S. District Judge Victor Marrero in Manhattan said he was considering whether to condition approval of the settlement on the outcome of a pending appeal by Citigroup Inc of another judge's rejection of a $285 million SEC settlement.

"What the court is suggesting here is not extraordinarily novel," he said.

Copyright 2010 by Reuters. All rights reserved.

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