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Pfizer, SEC Reach $29M End to Scrap Over Insider Trading Settlement
Pfizer has reached a settlement with the SEC to receive $29 million from a $602 million fund previously allocated to victims of an insider trading scheme involving a unit of Steven Cohen’s hedge fund. Pfizer claimed its entitlement to the remaining funds, asserting its own victim status in the scandal. The agreement marks an end to Pfizer’s dispute over the distribution of the settlement.