Nov 20, 01:30 AM

Judge Victor Marrero Rejects Pfizer's $75.2 Million Recoup Bid from $602 Million SEC Settlement to U.S. Treasury

Pfizer has faced a setback as a federal judge in New York, Victor Marrero, rejected the company's attempt to recoup approximately $75.2 million from a settlement related to an insider trading case involving billionaire Steven A. Cohen's hedge fund, SAC Capital Management. The judge ruled that the leftover funds from the U.S. Securities and Exchange Commission's (SEC) $602 million settlement would be transferred to the U.S. Treasury rather than to Pfizer. This decision follows a previous ruling where the Eleventh Circuit overturned a portion of a $196 million judgment against a group of fraudsters, which was also related to SEC actions. Pfizer is also seeking to halt a lawsuit in the D.C. Circuit that aims to hold the company liable for alleged terror activities impacting American servicemembers in Iraq.

#Pfizer #New York #Victor Marrero #SAC Capital Management #SEC #Eleventh Circuit #American #Iraq

Written with ChatGPT (GPT-4o mini).

Sources

Additional media

Image #1 for story judge-victor-marrero-rejects-pfizer-s-75-2-million-recoup-bid-602-million-sec-to-45e72e4e

Image #2 for story judge-victor-marrero-rejects-pfizer-s-75-2-million-recoup-bid-602-million-sec-to-45e72e4e

Image #3 for story judge-victor-marrero-rejects-pfizer-s-75-2-million-recoup-bid-602-million-sec-to-45e72e4e