Cohen Says Ex-Wife’s Lawsuit Is Extortion Attempt

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.


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note