Justin Lane/European Pressphoto Agency
A federal judge on Thursday approved a plea deal that federal prosecutors struck last year with SAC, the firm run by the billionaire Steven A. Cohen. The deal to resolve insider trading charges, which coincides with Mr. Cohen moving on to his next trading vehicle, requires SAC to pay $1.2 billion to the government while shutting its doors to outside investors. SAC also had to plead guilty to criminal charges, which it did in November.
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