06-29-2017  9:09 am      •     
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NEWS BRIEFS

Local Government, Employers Welcome Youth to SummerWorks

A record 1,150 youth will gain real-world work experience in jobs across Portland metro ...

Multnomah County Library Hosts ‘We Refuse to Be Enemies’

Library will hold a series of social justice workshops this summer ...

The Skanner Wins NNPA Award for Best Layout and Design

Our graphic designer Patricia Irvin wins for July 2016 issues ...

Cooling Centers to open in Multnomah County Saturday, Sunday

Temperatures expected to climb into the upper 90s this weekend ...

Multnomah County Leaders Release Statement on Safety at Summer Events

Officials advise public to check in, have a plan and be aware at public events ...

U.S. & WORLD NEWS

OPINION

Ask Ernie the Attorney

Ernest Warren's primary practice is personal injury, real property, corporate and criminal practice in Ore. and Wash. ...

Our Children Deserve High Quality Teachers

It’s critical that parents engage with educational leaders and demand equal access to high quality teachers ...

Civil Rights Groups Ask for Broad Access to Affordable Lending

Charlene Crowell writes that today’s public policy housing debate is also an opportunity to learn from the mistakes of the past and...

Criminal Justice Disparities Present Barriers to Re-entry

Congressional Black Caucus Member Rep. Danny Davis (D-Ill.) writes about the fight to reduce disparities in our criminal justice...

AFRICAN AMERICANS IN THE NEWS

ENTERTAINMENT

NEW YORK (CNNMoney) -- SAC Capital attorneys entered not guilty pleas to the federal criminal charges against the hedge fund at the initial hearing in the case Friday morning.



SAC Capital was represented by attorneys from two top New York law firms: Willkie Farr & Gallagher and Paul, Weiss, Rifkind, Wharton & Garrison. The hearing was held before U.S. District Court Judge Laura Taylor Swain.

Swain set Sept. 24 for the next hearing in the case.

U.S. Attorney Preet Bharara brought criminal charges against the firm Thursday accusing it of engaging in a pattern of insider trading that was "on a scale without known precedent in the hedge fund industry." Six former portfolio managers or research analysts from SAC have already pleaded guilty to insider trading while at the firm, with two more awaiting trial.

A spokesman for the firm said Thursday that the firm's employees who have pleaded guilty do not "reflect the honesty, integrity and character of the thousands of men and women who have worked at SAC over the past 21 years."

Steven Cohen, the billionaire founder and CEO of SAC, was not at Friday's hearing.

Cohen himself does not face criminal charges although the Securities and Exchange Commission has filed civil charges against him. Bharara would not rule out the possibility of future charges against Cohen, saying that the investigation is ongoing.

The U.S. Attorney is seeking forfeiture of at least hundreds of millions of dollars from the firm.

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