Janus leads financials down on probe fears

Source: Marketwatch

NEW YORK (MarketWatch) — Shares of U.S. financial stocks fell Tuesday as uncertainty abounded about a major ongoing insider-trading investigation, and mutual-fund firm Janus Capital Group and hedge fund SAC Capital Advisors said they have been contacted by authorities on the matter.

Janus /quotes/comstock/13*!jns/quotes/nls/jns (JNS 10.65, -0.31, -2.83%) shares were among the financial sector’s biggest decliners, falling 3.1% to $10.62.

Janus said Tuesday that it received an inquiry from authorities running an insider-trading investigation, seeking “general information” from the company. Janus said it intends to cooperate fully with the authorities.

“Janus does not intend to provide any further updates concerning this matter unless and until required by applicable law,” the firm said in a filing with the U.S. Securities and Exchange Commission.


Read more: http://www.marketwatch.com/story/financials-drop-for-second-day-2010-11-23?dist=countdown