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Steve Cohen’s Lawyer Asks Judge To Dismiss Ex-Wife’s Case While We’re Still Young And He’s Still The Guy Presiding Over ItBy Bess Levin
Martin Klotz, the attorney representing Cohen,* has thrown himself at the mercy of the court and asked, for the umpteenth time, that suit brought by Patrica Cohen– the ex-wife that could– be dismissed. Klotz made the request of U.S. District Judge William Pauley who, if you’re keeping track at home, is the second judge to preside over this case, while the plaintiff is on her third lawyer.
A lawyer for SAC Capital Advisors LP founder Steven Cohen urged a judge to dismiss a lawsuit by his ex-wife, who claims he ran his hedge fund as a racketeering enterprise. Patricia Cohen sued her ex-husband in 2009, claiming Stamford, Connecticut-based SAC engaged in insider trading, bank fraud, money laundering and other acts that violated the Racketeer Influenced and Corrupt Organizations Act. Patricia Cohen called SAC “the product of an ongoing racketeering scheme.” The suit is “basically a matrimonial claim” that should be heard in state court, Martin Klotz, a lawyer for Steven Cohen, told U.S. District Judge William Pauley in Manhattan yesterday. The suit was dismissed in 2011 by U.S. District Judge Richard Holwell, who said Patricia Cohen took too long to bring her claims. In April, the U.S. Court of Appeals in New York reinstated the case, saying it was filed in time. Without ruling on the merits, the court found that she properly asserted her claims that her ex-husband violated the racketeering law, committed fraud and breached his fiduciary duty. While the case was on appeal, Holwell left the bench for private practice. The case was reassigned to Pauley.