Following yesterday’s resignation of PC’s most recent lawyer, Howard Foster, in her case against Steve Cohen, who she claims hid millions from her during their divorce 20+ years ago, the ex-wife that could has hired herself a third attorney. Read more »
Patricia Cohen
Do you want to take on a man who would rather shave off his eyebrows than pay his ex-wife a dime? Do you relish the opportunity to oppose an army of highly-paid corporate lawyers with tens of thousands times the resources at their disposal? Are you not spooked by the prospect of serving as the third in a series of lawyers on a case? Then give Patricia Cohen a call. Read more »
Patricia Cohen Certain She Can Find The Right Lawyer To Stick It To Her Ex-Husband This Time
By Bess Levin
The ex-wife of hedge fund honcho Steve Cohen is turning up the heat in her bitter legal battle with her former husband. Patricia Cohen is talking with trial lawyers about taking on her case after a New York appeals court revived her lawsuit accusing her ex of cheating her out of millions during their divorce more than two decades ago, The Post has learned. No decisions have been made, but she is “evaluating how to go forward,” said a person close to the case…It’s unclear whether Patricia’s current lawyer, Howard Foster, who specializes in racketeering laws, will remain on the case if a trial lawyer is hired. He was given the option to stay on, a source said. Foster is Patricia’s third lawyer since she first kicked off the case in 2009. [NYP, related]
Patricia Cohen Has Been Suing Her Ex-Husband For Over 20 Years, Has No Plans To Throw In The Towel Now
By Bess LevinSteven Cohen, the billionaire founder of SAC Capital Advisors LP, hid $5.5 million from his ex-wife during their 1990 divorce, her lawyer argued before a federal appeals panel in seeking to reverse the dismissal of her lawsuit. Howard Foster, a Chicago-based lawyer for Patricia Cohen, said Steven Cohen didn’t include the money, which Foster said he received as part of a settlement over a real-estate dispute, on his 1989 financial statement. Martin Klotz, a lawyer for Steven Cohen, denied his client hid money…In March, U.S. District Richard Holwell in New York dismissed Patricia Cohen’s suit, ruling she took too long to bring the case, which was filed in 2009. The judge said Cohen made similar claims in a 1991 lawsuit in which she accused her ex-husband of hiding assets and misrepresenting the value of his investments. [Bloomberg]
The U.S. Court of Appeals for the Second Circuit will hear oral arguments at 10 a.m. Tuesday in a lawsuit filed by the ex-wife of SAC Capital Advisors founder Steven A. Cohen. Patricia Cohen alleges he hid assets during their divorce proceedings. A lower court dismissed the case in March 2011. [WSJ]
Steve Cohen has said numerous times that Fairfax Financial is up to some unsavory stuff in its neverending lawsuit against every hedge fund shorting the Canadian insurer’s stock in 2009. You might think that convincing his ex-wife to sue him for control of SAC Capital was bad enough, but an even shadier stunt: Fairfax supposedly paid investigators to pretend to be hedge fund managers looking for some inside information from SAC’s co-defendants while their lawyers weren’t looking.
Read more »
Judge Denies Patricia Cohen’s Request For The Amount Of Cash Steve Has In His Wallet Right Now
By Bess LevinNot too long ago, Patricia Cohen, the ex-wife of Steve, had a dream. It wasn’t just that she wanted to successfully sue her former husband, who she’d accused of insider trading, hiding marital assets, and so on and so forth and it wasn’t just about money. “No,” Patty said to herself, “dream bigger.” And so she did. Read more »
Patricia Cohen Now Offering To Settle For Less Than The Amount Steve Has In His Wall RIGHT NOW
By Bess Levin
Not too long ago, Patricia Cohen, the ex-wife of Steve, had a dream. It wasn’t just that she wanted to successfully sue her former husband, who she’d accused of insider trading, hiding marital assets, and so on and so forth and it wasn’t just about money. “No,” Patty said to herself, “dream bigger.” And so she did. She dreamed of what many want but few have the cojones or ovaries to ask for: SAC Capital. A “substantial if not controlling stake.” Her own desk on the floor. The PMs, the P&L analysts, the Silver Fox, the bodyguard. They were all gonna be hers. And not just that, she’d take the embalmed pets too. And all the fleece jackets in the back. Throw in the vests as well! In June, she got a new lawyer (her third one since this case started) and though we wondered if it signaled a setback, figured, hey, if this broad wants it, she’ll find a way. Today the ex-Mrs. SAC has announced that she’s no longer gunning for the most majestic hedge fund in all the land. She’s not even asking for one fleece! Fork over $2.7 million and she’ll go away (though, you know, it would be a nice gesture). Read more »
Bonus Watch ’10: What Kind Of Take Home Can You Expect For Turning In Your Ex-Husband For Insider Trading
By Bess LevinA couple months back we offered some advice to those considering taking up the insider trading game. It was that you strongly consider a) NOT discussing your activities with your spouse or b) vow now, no matter how bad it gets, to stay married to this guy or girl, ’cause if you don’t he/she will throw it all back in your face in an attempt to get you nailed to the wall. If you don’t listen to every damn word we have to say, we can’t help you. You’ve made your bed, etc. Now here’s a little 411 for the other side: should your marriage fall apart, and should you have an inkling your former partner was trading on some material non-public information, and should you be looking for a little payback in the form of cash-money– would one million dollars do the trick?
A few months back Patricia Cohen, ex-wife of Steve, dropped the lawyer who initially helped her file a suit against the SAC founder, claiming he hid marital assets, had engaged in insider trading, and yada yada yada. Then in April, she filed a newer, even bolder suit. Previously, Patricia had requested around $300 million from her former husband. This time, she dreamed bigger. She wanted SAC Capital. A “substantial, if not controlling interest.” The PMs, the P&L analysts, the Silver Fox. They were all gonna be hers. And not just that, she’d take the embalmed pets too. And all the fleece jackets in the back. The vests too! Today, that dream has been stalled. Patricia’s second lawyer, Gaytri D. Kachroo, has informed a court she’s finished with this lady. We’re told GDK is saying she wasn’t paid, or paid as much as she was promised. There are also claims– by others– that Kachroo was actually fired. Whatevs! It’s all relative. Any takers for round three? Read more »
So you’re contemplating being on the giving or receiving end of some hot tips are you? Before you do so, may we make a suggestion? Obviously we’re not going to tell you to stop and think about the fact that it’s still currently frowned upon to trade on material non-public information. You’ve made your decision and we support that. What we are going to strongly suggest is that you consider a) NOT discussing your activities with your spouse or b) vow now, no matter how bad it gets, to stay married to this guy or girl, ’cause if you don’t he/she will throw it all back in your face in an attempt to get you nailed to the wall. Read more »
- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
