SAC Capital Advisors LP will plead guilty to securities fraud as part of a landmark criminal insider-trading settlement with federal prosecutors set to be announced by next week, the Wall Street Journal reported today. The exact timing of the pact isn't set, though if final details are ironed out quickly, it could be unveiled by the end of this week. SAC, run by Wall Street titan Steven A. Cohen, also will agree to stop managing outside money and to pay the government criminal penalties of about $1.2 billion, according to these people. That would be the largest-ever insider-trading penalty. SAC has thus far denied the criminal allegations and said Cohen has done nothing wrong.
