Wednesday, 23 July 2014
Last updated 1 hour ago
Jan 29 2008 | 7:39am ET
The tragic death of a former hedge fund executive’s son has landed in the courts. Brian Cohn, who stepped down from his post a president of SAC Capital Advisors earlier this month, has sued the company who built the pool in which his 6-year-old son drowned in July.
He also filed suit against the manufacturer of the pool’s drainage equipment and the town of Greenwich, Conn.
Cohn alleges that his son, Zachary, drowned when he was caught in a faulty drain suction line. It also accused Greenwich of approving the pool in spite of “multiple obvious code violations,” the Cohn’s attorneys, Silver Golub and Teitell, said yesterday.
According to the release, if the Cohns are successful in the litigation, any awards would go to the non-profit they set up in their son’s memory, the ZAC Foundation for Children’s Safety.
Cohn spent 11 years at SAC, the Stamford, Conn.-based hedge fund giant, and said he’ll be taking a break before pursuing a new employment opportunity.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…