NEW YORK (Reuters) – A federal choose on Tuesday rejected Pfizer (NYSE:)’s bid to recoup about $75.2 million left over from a U.S. Securities and Trade Fee settlement with billionaire Steven A. Cohen’s hedge fund SAC Capital in an insider buying and selling case.
U.S. District Decide Victor Marrero in Manhattan mentioned Wyeth, a drugmaker that Pfizer purchased in 2009, was not a sufferer of the securities violations underlying the SEC case, and subsequently was not entitled to recuperate the funds.
Marrero directed that the cash be paid to the U.S. Treasury, which the SEC had requested.
