12-11-2017  10:54 am      •     
MLK Breakfast
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NEWS BRIEFS

Joint Office of Homeless Services Announces Severe Weather Strategy

Those seeking shelter should call 211 or visit 211.org; neighbors encouraged to volunteer and donate cold-weather apparel ...

Q&A with Facebook's Global Director of Diversity Maxine Williams

A conversation on diversity and the tech industry ...

City Announces Laura John as Tribal Liason

Laura John brings an extensive background in tribal advocacy and community engagement to the city of Portland ...

Humboldt Sewer Repair Project Update: Dec. 4

Environmental Services continues to repair more than 3 miles of public sewer pipes ...

'Santaland' on Display at Oregon Historical Society

New exhibit features Santa’s throne, Rudolph, and elves from original Meier and Frank’s Santaland ...

U.S. & WORLD NEWS

OPINION

Payday Lenders Continue Attack on Consumer Protections

Charlene Crowell of the Center for Responsible Lending writes that two bills that favor predatory lenders has received bipartisan...

Hundreds Rallied for Meek Mill, but What About the Rest?

Lynette Monroe, a guest columnist for the NNPA Newswire, talks about Meek Mill, the shady judge that locked him up and mass...

Top 10 Holiday Foods to Avoid Feeding Your Pet

Dr. Jasmine Streeter explains why pampering pets with holiday treats can be dangerous (and pricey) ...

Why We Need More Black Men in Early Childhood Education

Royston Maxwell Lyttle discusses the importance of Black male teachers in early childhood education for the NNPA ESSA Media Campaign ...

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.

™ & © 2013 Cable News Network, Inc., a Time Warner Company. All rights reserved.

 

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