Wednesday, 30 July 2014
Last updated 13 hours ago
Jan 14 2010 | 1:25pm ET
The case of Cohen vs. Cohen has gotten so complicated, even the judge needs to be brought up to speed.
U.S. District Judge Richard Holwell has scheduled a status conference for March 19, as he sifts through a case that—this week alone—has included a call for sanctions, an allegedly unauthorized move to drop the suit and, now, a promise that it’s all far from over.
In a letter to Holwell on Monday, the new lawyer for Patricia Cohen, the ex-wife of SAC Capital Advisors founder Steven Cohen, said she’d file an amended complaint and that her client is committed to continuing her $300 million racketeering case against the hedge fund billionaire. The letter, which was made public yesterday, came on the same day that Steven Cohen’s lawyers called for sanctions against Patricia Cohen’s former lawyer, alleging that the suit was filed “to harass and generate media attention against Mr. Cohen.” It also came a day before the former lawyer, Paul Batista, who was unceremoniously relieved of his duties by Patricia Cohen last week, moved to have the lawsuit dismissed. Patricia Cohen and her new lawyer, Gaytri Kachroo, said that Batista did so without notifying them.
Patricia Cohen’s original complaint accused her former husband of hiding marital assets and lying under oath about his net worth. She also alleged that he confided to her that he had traded on inside information about General Electric’s takeover of RCA in 1985.
“Ms. Cohen claims a continuing pattern of racketeering activity,” Kachroo wrote to Holwell. “This is not a mere marital dispute.”
The Cohens have been divorced for nearly 20 years.
Steven Cohen has denied his ex-wife’s allegations, his spokesman calling them “frivolous.”
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…