Tuesday, 21 October 2014
Last updated 10 hours ago
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.
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...