• On April 16th, U.S. District Court Judge Victor Marrero thoughtfully explained why he has conditionally approved the SEC's proposed $600 million insider trading settlement with CR Intrinsic, the SAC Capital affiliated hedge fund. Marrero voiced his concern for the SEC's policy of allowing defendants to settle without admitting or denying wrongdoing. While that policy may be appropriate in the ordinary "cats and dogs" types of cases, he questioned the policy's applicability where, as here, the elephant enters the room in the form of an extreme disparity between the size and speed of a settlement on the one hand and the plausibility of an absence of wrongdoing on the other, a plausibility which is further stretched by an upcoming related criminal trial. SEC v. CR Intrinsic Investors, LLC.