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.
Steve Cohen Needs To Go Stress Shopping, STAT
In objective terms, worse things have happened to Steve Cohen than the news he received today. The charges against Mathew Martoma re: allegedly masterminding the largest insider trading scheme ever during his time at SAC. Friday's arrest of high-ranking employee Michael Steinberg. The $614 million he needs to personally pony up to settle with the Securities and Exchange Commission (which he may not even be allowed to do without an admission of guilt). The slanderous claim his house clocks in at a mere 14,000 square feet. The circling of federal investigators who want him bad. And yet presumably none of that compares to today's hit, which must have him in a fury that only the purchase of the Mona Lisa can assuage.