WSJ: Hedge fund's MedImmune profits spur SEC insider probe

The Wall Street Journal reports this morning that the big hedge fund SAC Capital Advisors is being investigated for possible insider trading related to AstraZeneca's $15 billion acquisition of MedImmune back in 2007. According to the Journal the SEC has been probing the MedImmune takeover for more than a year, issuing subpoenas as it ponders whether inside info was used to profit from the deal. SAC, a high profile hedge fund, accumulated 796,000 shares of MedImmune in the months ahead of the buyout. Story