Steve Cohen

Something you probably know about Steve Cohen is that the last number of years have not been so kind to him. Almost a dozen of his employees have been charged with and convicted of securities fraud. The government won’t let him manage outside money. He had to rename his fund, rendering a warehouse full of SAC fleeces useless. No one will buy his apartment. The New York Times thinks his house is only 14,000 square feet. He just wrote a check for $848 million, money that could’ve gone toward Super Duper Weenie products or Guy Fieri cookbooks. It’d be enough to make anyone want to get into bed, pull the covers over their head, and shut out the world, which is exactly what Cohen was doing earlier this year.

So when his wife wanted to attend a little party in East Hampton this weekend, it surely took some convincing. “It’ll be good to get out, Steve,” she probably said. “I bet they’ll serve cocktail franks.” “Alec Baldwin will be there; you loved him in Glengarry Glen Ross and Along Came Polly.”

One or all of these temptations clearly struck a chord, and Cohen decided that yes, he would be nice to get out and mingle. Unfortunately, he didn’t realize that Bloomberg‘s exacting eye would be watching. Read more »

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 »

  • 06 Jun 2014 at 1:15 PM

Lawyer Watch ’14: Citi, Steve Cohen

It’s never good when you have to call the high-powered, high-hourly-rate attorneys in. And things are not good for Mike Corbat and Steve Cohen. Read more »

  • 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 »

Patricia Cohen, previously known as one half of Mr. and Mrs. Steven A. Cohen, has new representation in her quest to nail her ex-husband to the wall. And while some might assume that the fact that she’s on her fifth attorney as meaning this case is dead in the water, others like the ex-Mrs. SAC’s chances. 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]