Tuesday, 28 July 2015
Last updated 9 hours ago
May 10 2010 | 12:28pm ET
SAC Capital Advisors founder Steven Cohen has asked a judge to dismiss his ex-wife’s racketeering lawsuit against him, calling it little more than a shakedown attempt.
Patricia Cohen’s lawsuit “is plainly designed to extort monies from Mr. Cohen,” his lawyers wrote in a dismissal motion, filed Friday in Manhattan federal court.
Patricia Cohen claims that her ex-husband hid marital assets from both her and the authorities during their 1991 divorce. She also alleges that he confessed to insider-trading, and is demanding a “substantial, if not controlling” stake in SAC Capital, which she says was set up in part with money she made on real-estate investments.
Even if Patricia Cohen’s claims had any merit, they do not constitute racketeering, Steven Cohen’s lawyers say. And even if they did, the statute of limitations has lapsed.
May 27 2015 | 2:15pm ET
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