Saturday, 30 July 2016
Last updated 19 hours ago
May 3 2010 | 12:50pm ET
Hedge fund honcho Steven Cohen is poised to ask a judge to junk his ex-wife’s racketeering lawsuit against him, in which she seeks a big chunk of his SAC Capital Advisors.
Cohen’s lawyer, Martin Klotz, will file a motion to dismiss Patricia Cohen’s lawsuit, which stems from their divorce in 1990, on Friday, he wrote to U.S. District Judge Richard Holwell. Patricia Cohen accuses her ex-husband of hiding millions in assets from her and the authorities during their divorce, and has also accused him of insider-trading while they were married. Her suit seeks a “substantial, if not controlling, interest in SAC Capital.”
But Klotz told Holwell that Patricia Cohen’s accusations don’t constitute racketeering, and that the statute of limitations on the divorce case has long since lapsed.
“Plaintiff’s divorce, and the conduct about which she complains, are now ancient history,” he wrote.
Patricia Cohen’s lawyer, Gaytri Kachroo, has 45 days to respond to the dismissal motion.