SAC Capital Advisors LP’s plea agreement to pay a $900 million penalty should be accepted, U.S. prosecutors told a judge as they seek the biggest criminal fine ever imposed for insider trading following a six-year probe of the firm, Bloomberg News reported on Friday. U.S. Attorney Preet Bharara’s office on Thursday asked U.S. District Judge Laura Taylor Swain to approve the agreement as part of a record $1.8 billion settlement that also calls for the hedge fund to close its investment advisory business. Judge Swain is set to decide April 10 whether she will accept the guilty plea and sentence the Stamford, Connecticut-based firm founded by billionaire Steven A. Cohen.
