Tags: Divorce, ex-wives, Patricia Cohen, RICO, SAC Capital, Steve Cohen
A judge may have thrown out her RICO claims, but she’s still got breach of fiduciary duty, and if she has to go through 20 more lawyers to make her case, so help that’s what she’s gonna do.
In a court ruling on Monday, the judge, William H. Pauley III of United States District Court for the Southern District of New York, observed that the litigation between the former spouses was notable for the “seemingly inexhaustible legal resources each side has brought to bear.” The judge added that given the parties divorced in 1990 after 11 years of marriage, the current legal squabbling restores “faith in the old-fashioned idea that divorce is something that lasts forever.” …
The judge granted a motion by Mr. Cohen dismissing a civil racketeering claim that would have enabled his ex-wife to collect treble damages. Judge Pauley said that he found no evidence Mr. Cohen had used his SAC Capital Advisors hedge fund to conceal a nearly three-decade-old settlement from her. The judge also rejected the notion that the federal government’s insider trading investigation of SAC and Mr. Cohen had anything to do with Mrs. Cohen’s civil claims filed under the Racketeer Influenced Corrupt Organizations, or RICO, statute…But Judge Pauley let stand claims that Mr. Cohen breached a fiduciary duty to his ex-wife and potentially defrauded the her out of her right to some of the proceeds of a nearly three-decade-old settlement.
Judge Throws Out Racketeering Claims Filed by Cohen’s Ex-Wife [Dealbook]
Earlier: Steve Cohen Not The Only One Sick Of His Ex-Wife