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

Q&A: Filippo Pignatti Morano On The Ultimate Alternative Investment...Classic Cars

Jan 29 2015 | 12:37pm ET

In 2011, Filippo Pignatti Morano launched a fund to invest in classic cars. FINalternatives...

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

Five Tips For Successfully Marketing Your Hedge Fund

Jan 30 2015 | 9:14am ET

When it comes to the hedge fund industry, the notion of “build it and it will...

 

Editor's Note