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).
Also! She's apparently just remembered some new info that was not previously mentioned in earlier version of the suit, such as:
In 1985 Steven was informed of the imminent acquisition of RCA Co. by General Electric Co. by Bruce Newberg, a securities trader at Drexel Burnham Lambert. Mr. Newberg provided the information to Steven in furtherance of their long-standing friendship which began at Wharton Business School. Mr. Newberg also hoped to enhance his standing with Steven, who was by then an up and coming trader on Wall Street.
Steven knew that Mr. Newberg had obtained the information from Dennis Levine, one of Newberg’s superiors at Drexel Burnham Lambert, and that Mr. Levine had been provided with the information from an RCA insider. Such privileged information was provided to Steven as part of his relationship with Mr. Newberg and as part of an effort to “take care of one another.” They sometimes referred to their group of Wharton friends as “the Wharton mafia.”