02-25-2018  3:59 am      •     
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NEWS BRIEFS

Breaking Bread Breaking Barriers, Feb. 26

Monthly dinner aims to build relationships between communities of color and police ...

Local Group Researches African American Ancestry

This Genealogical Forum of Oregon special interest group holds monthly meetings ...

Last Day to Apply for Affordable Housing is Feb. 22

Longtime and displaced residents of N/NE Portland receive preference for new housing, apply before midnight Thursday ...

NAACP Announces Key Partnerships

Voter mobilization for 2018 midterm elections takes precedence among issues uniting groups ...

Winter Donations Needed, Warming Centers Open Through Thursday

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U.S. & WORLD NEWS

OPINION

Painting President Obama's Portrait Was Life-Changing

Artist Kehinde Wiley represented the president's life using color, composition and flowers ...

Raising Emotionally Competent Children

Lynnette Monroe on how her grandparents taught her to love herself ...

Black Dollars Matter: The Sales Impact of Black Consumers

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Guest Opinion: Skipper Osborne’s Testimony on HB 4005

In testimony to legislature, Osborne says bill could decrease access to important therapies ...

AFRICAN AMERICANS IN THE NEWS

ENTERTAINMENT

Aaron Smith and Chris Isidore

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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