Cohen Throws Party Two Days After SAC Charges

Jul 30 2013 | 10:06am ET

His hedge fund was indicted for fraud on Thursday. On Friday, it pleaded not guilty.

On Saturday, SAC Capital Advisors' Steven Cohen threw a party.

In spite of the insider-trading charges that threaten his 21-year-old firm, Cohen moved ahead with the previously-planned affair, Reuters reports. The event was intended to show support for ovarian cancer research, although it was not a fundraiser.

A few dozen people attended the evening party at Cohen's home in East Hampton, N.Y., where they shared $2,000 worth of tuna delivered by a local fishmonger.

The same determination to keep SAC up-and-running was behind Cohen's decision to not cancel the party, according to Reuters sources.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of