Wednesday, 1 October 2014
Last updated 12 hours ago
Jul 30 2010 | 1:30pm ET
The ex-wife of hedge fund titan Steven Cohen has lowered her asking price in her controversial racketeering lawsuit against the SAC Capital Advisors founder.
Patricia Cohen has again moved to amend her lawsuit against her ex-husband. But where she previously sought at least $100 million and “a substantial, if not controlling,” stake in SAC, she is now asking for a positively modest $8.25 million.
The new figure was arrived at by claiming that a $9 million investment Patricia Cohen claims her then-husband said was a total loss was actually worth $5 million. The amended lawsuit asks for the $2.75 million that Patricia Cohen says she would have been entitled to in the couple’s 1991 divorce, trebled to help her pay her legal fees.
That is no small matter: Patricia Cohen has seen one former lawyer sue her for unpaid legal fees, and her next quit last month over the same issue.
She does not, however, back down on the explosive allegations at the center of her lawsuit, which accuses Steven Cohen of insider-trading and perjury. Patricia Cohen is also suing Cohen’s brother, Donald, and former business partner Brett Lurie. But she has dropped SAC itself as a defendant.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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