The blockbuster $1.2 billion insider-trading settlement between SAC Capital Advisors LP and the U.S. government has two more court hurdles to clear, the Wall Street Journal reported today. If either of the judges in both the civil and criminal proceedings doesn't approve the settlement, SAC could walk away from its agreement with the federal prosecutors and try to fight the criminal indictment. The plea agreement is a global settlement that would resolve two separate cases, one criminal and one civil. Wednesday morning, U.S. District Judge Richard Sullivan will hold a hearing on the civil piece of the case — a $900 million civil forfeiture reduced to $284 million because SAC received credit for a pending $616 million settlement with the Securities and Exchange Commission. Friday afternoon, Judge Laura Swain will hold a hearing on the $900 million criminal fine.
