In this article, Andy Wise comments on the indictment by federal prosecutors against SAC Capital Advisors LP, accusing the hedge fund of perpetrating a large insider trading scheme. According to Wise, "It is important to keep in mind that the indictment results from a secret grand jury process that did not involve cross-examination of witnesses, presentation of evidence favorable to the defense, or even participation by lawyers representing the accused."

Wise added, "In the next couple months, SAC and the other defendant entities will have their first chance to fight these allegations and challenge the evidence the Department of Justice claims supports them. In many criminal cases, the facts appear much different once the adversarial process has begun to run its course than they do when an indictment is returned."