SAC Capital Advisors LP and prosecutors asked a federal judge to approve an agreement that would allow the hedge-fund giant to maintain business operations but restrict its ability to move assets elsewhere while facing criminal insider-trading charges, the Wall Street Journal reported today. The terms proposed by SAC and the Manhattan U.S. Attorney’s Office would require the firm to maintain at least 85 percent of the “aggregate value” of assets owned by the firm’s “entity defendants” as of July 1, in exchange for its continuing ability to engage in lawful operations, according to the filings. If the assets fell below the specified level in a given month, it would be required to “replenish” them within five days after the end of that month, according to the filings.
