Point72 Asset Management

Steven A. Cohen proved to be a stickler for the letter of the law when it came to paying the criminal penalty imposed on his former hedge fund as part of its guilty plea on insider trading charges. On April 10, Judge Laura Taylor Swain of Federal District Court in Manhattan gave Mr. Cohen’s SAC Capital Advisors up to 90 days to pay the $848 million penalty, part of an overall $1.2 billion criminal settlement reached with prosecutors last November. On Tuesday, the 90th day since Judge Swain accepted the firm’s guilty plea, Mr. Cohen’s firm made that payment, according to court records. [Dealbook]

Apparently not everyone is interested in sticking around for the chance to manage Steve Cohen’s second cousins’ money, or for the new zip-ups and other assorted swag. Read more »

The more things change, the more they stay the same, except if we’re talking about Patagonia fleeces, which these clearly are not, although perhaps these are those will be issued for Fall/Winter.

Earlier: Everything’s Going To Be Alright: A Sign From Stamford

Related: “What the hell am I supposed to do with these?!”

  • 03 Jun 2014 at 12:10 PM

Someone Still Believes In Steve Cohen

It may be the woman with whom he shares a marital bed, but every person counts. Read more »

  • 28 May 2014 at 6:07 PM

Steve Cohen Cohen’s Summer Is Looking Up

It could be months, maybe even years, before there is a resolution of the Securities and Exchange Commission’s administrative case against the billionaire investor Steven A. Cohen, whose former hedge fund pleaded guilty to insider trading. In a letter Wednesday to the administrative judge overseeing the S.E.C.’s action against Mr. Cohen, which accuses him of failing to supervise his employees, federal prosecutors requested an extension of an earlier stay that has been in place since August. Prosecutors want the proceeding stayed pending the outcome a closely watched appeal of the convictions of two former hedge fund managers, which could lead to new trials not only for them but potentially others convicted of insider trading. [Dealbook]

For the most part, 2013 was not kind to Steve Cohen. The Feds put his balls in a jar and put that jar on Preet Bharara’s desk. One of his ex-employees went to trial for (and was later found guilty of) masterminding the “most lucrative insider trading scheme ever.” Other former traders helped bring the number of SAC alums indicted on securities fraud charges to nine. His genius idea to give out free hot dogs on the front lawn of SAC HQ failed to prevent a number of departures. He lost his biggest fan. For a lot of hedge fund managers, all of this would add up to moping around the office and turning in less than stellar work. For Steve Cohen, it meant turning up the Styx and getting down to business. Read more »

  • 16 Apr 2014 at 4:40 PM

Steve Cohen Needs Your Best Trade Ideas

He’s got 90 days to make his fine back. Can he do it? With your help, he just might. Read more »