Wednesday, 23 July 2014
Last updated 1 hour ago
Apr 8 2010 | 4:10am ET
His name has been dragged through the mud. In his ongoing battle with his ex-wife, SAC Capital Advisors founder Steven Cohen has been accused of insider-trading, lying to his wife and the authorities, hiding millions in assets, being a miserly billionaire and a bad father. His ex-wife, Patricia Cohen, notes that he continued sleeping with her as he courted his current wife, Alexandra, and has called him a coward and a bully, all in print.
Despite all the airing of that dirty laundry, however, Patricia Cohen, who refiled her racketeering lawsuit against her ex-husband this week, still believes Steven Cohen will settle.
“He’ll blow wind for a time to see if he can get away with it but there is no way he is ever going to allow himself to be forced to sit there and be deposed,” she told the New York magazine reporter who wrote a long feature about the case last month. And the reporter, Steve Fishman, notes that the case has led to some uncomfortable questions for the hedge fund manager from the last place he wants to get them: his clients.
“Based on his history, he always settles,” Patricia Cohen says. But her ex-husband’s lawyers seem confident that they’ll win before their client is faced with a deposition. And Cohen himself told an associate a few weeks ago that he wants “a court decision,” according to New York.
The SAC chief’s legal team is set to argue that the statute of limitations has long since run, as the Cohens were divorced in 1990. And they could also take aim at his ex-wife’s new lawyer, Gaytri Kachroo, as they did against her former lawyer, demanding sanctions for filing a frivolous lawsuit.
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…