Cohen Hires Top Lawyer Boies For SEC Case

Jun 6 2014 | 9:25am ET

If the Securities and Exchange Commission’s lawsuit against SAC Capital Advisors founder Steven Cohen ever goes to trial, the regulator will be up against one of the great courtroom advocates in recent memory.

Prominent trial lawyer David Boies was retained by Cohen last year to join the legal team helping him fight allegations that he failed to supervise employees since convicted of insider-trading. The SEC is seeking to bar Cohen from managing outside capital.

Cohen is not currently doings so: As part of a plea agreement with prosecutors, SAC agreed to return investor money and become a family office, now called Point72 Asset Management. But Cohen is said to want to return to managing client money again one day.

Cohen’s hiring of Boies was first reported by Fox Business Network.

Boies is perhaps best known for being the lead lawyer on the losing side of the legal battle surrounding the 2000 presidential election, in which he represented Vice President Al Gore. He also represented the U.S. Justice Department in its antitrust case against Microsoft Corp. in 1998 and successfully challenged California’s same-sex marriage ban last year.

The SEC’s case against Cohen is currently on hold at prosecutors’ request, pending an appellate court ruling on an unrelated insider-trading case that could impact at least one of the convicted traders who Cohen allegedly failed to supervise.


In Depth

Will Liquid Alts’ Performance Sustain Future Asset Flows?

Aug 25 2014 | 10:34am ET

Liquid alternative investment funds saw the highest percentage of capital inflows...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.