Cohen’s Ex Now Asks For Just $8 Million In Lawsuit

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.


In Depth

The Benefits Of Private Debt Investing

May 7 2015 | 10:43am ET

Jeffrey Haas is chief operating officer of Old Hill Partners Inc., an SEC-registered...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

How To Generate 6% Yield In A Volatile World

May 22 2015 | 6:41am ET

Private credit comes in many different flavors, all with the common themes of over...

 

Editor's Note