March 28, 2013

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.

ABOUT THE AUTHOR

Copyright 2014 Thomson Reuters. Click For Restrictions