The Hits Just Keep On Coming For Guys Named Steve A. Cohen

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2014: Not a good year to be named Steve A. Cohen. For any expecting parents out there thinking about going with S.A.C., consider Bill or Ted instead. Moving forward perhaps thing one should fall under names we don't give kids anymore, like Mussolini or Stalin.

A former NBTY Inc director and four co-defendants have agreed to pay more than $500,000 to settle charges that they used illegal tips to trade in the vitamin maker's stock before it was acquired by Carlyle Group LP for $4 billion in 2010. The deal resolves allegations brought by the U.S. Securities and Exchange Commission that Glenn Cohen, a former NBTY board member, learned that Carlyle was in negotiations to buy the company and shared the information with his brothers and a brother's girlfriend. The five defendants reaped $175,000 in illicit profits as a result of insider trading, according to the SEC.

Besides Glenn Cohen, the SEC sued his brothers, Craig, Marc and Steven, as well as Laurie Topal.

Ex-NBTY board member settles SEC insider trading case over Carlyle buyout [Reuters]
SEC v. Glen Cohen, Craig Cohen, Marc I. Cohen, Steve A. Cohen, Laurie G. Topal [SEC]

Related

The Feds Are Struggling To Understand Why Mathew Martoma Won't Just Turn On Steve Cohen Already, God Damn It

"We have been remarkably successful in convincing persons to cooperate with the government, and provide evidence to us, and in court of law," SEC director of enforcement Robert Khuzami said during a press conference the day the government went public with its charges of insider trading against former SAC Capital employee Mathew Martoma. To the untrained ear, Khuzami probably appeared to be speaking to no one in particular, just sending a general message to any would-be criminals out there that once the government got to their co-conspirators, it'd be all over. No one wants to do time, and everybody flips. To those who've been following Operations Perfect Hedge, though, and have watched the Feds' relentless pursuit of Steven A. Cohen,  it was obvious they were sending a clear message to the Big Guy: "We got ya boy, and ya goin' down." And since its track record of getting people to turn on their colleagues and in some cases, their best friends (see: Noah Freeman/Donald Longueuil, and these guys, and these guys, and this guy) really has been "remarkably successful," and since Martoma has a wife and two young kids and his whole life ahead of him, Khuzami and Co. probably assumed they had this one in the bag. But not so.