Judge OKs Third Amendment To Cohen Ex's Lawsuit

Sep 24 2013 | 9:38am ET

SAC Capital Advisors founder Steven Cohen's ex-wife will get one more—and only one more—chance to get her racketeering lawsuit against him right.

U.S. District Judge William Pauley granted Patricia Cohen's motion to file an amended complaint against her husband, this time to add an allegation against his brother and to change a paragraph dealing with jurisdiction. After that, it goes forward, Pauley said, for better of worse.

"The world is going to end someday and my job is to make sure this case ends before that day comes," Pauley said. "No further amendments will be permitted in this court."

Patricia Cohen filed the explosive lawsuit, accusing SAC of insider-trading, fraud and money laundering, in 2009. It has been dismissed and reinstated and amended twice; Cohen is on her fourth lawyer and the case its second judge: The original judge, Richard Holwell, who dismissed the claim, resigned from the bench last year.

In the lawsuit, Cohen accuses her ex-husband of hiding a $5.5 million real-estate settlement during their 1991 divorce. She is seeking $8.5 million in damages, a far cry from her original demand: a controlling stake in SAC.

The case will be back in court on Nov. 21, when lawyers for Steven Cohen and SAC will seek to have the case dismissed—again.


In Depth

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Artivest Announces Funding Round Led by KKR & Co.

May 4 2015 | 9:56am ET

Artivest, a startup that provides individual investors with access to private equity...

Guest Contributor

Starting a ‘40 Act Fund Family? Don’t Forget Your Board

Apr 30 2015 | 7:18am ET

The convergence of the hedge fund and mutual fund worlds continues unabated, as...

 

Editor's Note