A federal judge has rejected Pfizer's bid to recoup approximately $75.2 million that remained from a U.S. Securities and Exchange Commission (SEC) settlement. The settlement was related to an insider trading case involving billionaire Steven A. Cohen's former hedge fund, SAC Capital.
Pfizer had sought to recover these funds, but the court's decision means the company will not receive the requested amount. This outcome represents a financial loss for Pfizer, as the funds will not be returned to the company.
The ruling concludes Pfizer's attempt to claim a portion of the settlement, impacting its financial recovery efforts from the long-standing legal matter.
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