Cohen Civil Case Could Be Delayed Again

Aug 28 2014 | 11:03am ET

Steven Cohen’s date in court with the Securities and Exchange Commission is getting further and further away.

Federal prosecutors in Manhattan again asked the SEC’s chief administrative law judge to delay the regulator’s civil proceeding against him for failure to supervise his employees. The U.S. Attorney’s Office wants the case postponed until the criminal cases against two former SAC Capital Advisors traders convicted of insider-trading are resolved.

That could be a while: One of the two, Michael Steinberg, is appealing his conviction, and the other, Mathew Martoma, is expected to appeal his following his sentencing next month. The civil case against Cohen—in which the SEC is seeking to have him barred from the securities industry—has already been delayed by a year.

Cohen is not currently managing outside capital. SAC pleaded guilty to insider-trading charges last year and agreed to return client money, becoming a family office called Point72 Asset Management after paying $1.8 billion in penalties to settle the matter.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

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

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...

 

From the current issue of