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Miles
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SAC Faces Insider Trading Probe on MedImmune


6/1/2011 7:12:10 AM

SAC Capital Advisors LP faces an insider trading probe from the U.S. Securities and Exchange Commission related to the $15 billion takeover of biotechnology firm MedImmune Inc, the Wall Street Journal reported, citing people familiar with the matter.

The probe is part of a broader SEC inquiry into possible insider trading by hedge funds in connection with the biggest healthcare deals of the last decade, the Journal said.

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