(Updates with guilty plea in second paragraph.)
Sept. 13 (Bloomberg) -- Donald Longueuil, a former junior portfolio manager at SAC Capital Advisors LP, agreed to settle a civil suit filed by the U.S. Securities and Exchange Commission.
Longueuil was sentenced to 30 months in prison in July after pleading guilty to criminal charges of conspiracy and securities fraud in a case that also included former SAC portfolio manager Noah Freeman, Samir Barai, founder of Barai Capital Management, and Jason Pflaum, an analyst who worked for Barai.
All four men pleaded guilty in a U.S. investigation targeting insider trading at hedge funds. The settlement, filed in U.S. District Court in Manhattan today, says that Longueuil is cooperating with the SEC’s investigation.
Longueuil agreed to pay the SEC $353,000 in the settlement. The agreement gives him credit for the larger amount, $1.25 million, that he is required to forfeit to the government as part of the criminal conviction.
The case is Securities and Exchange Commission v. Longoria, 11-CV-753, U.S. District Court, Southern District of New York (Manhattan).
--With assistance from Patricia Hurtado in New York. Editors: Mary Romano, Andrew Dunn
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