Will Cohen celebrate the loss by his noted #2 enemy1 at the hands of an appeals court by saying, "Fuck it, you know what? We're re-re-naming the firm?" We'll just have to wait and see (but it seems possible).
“Ebullient” was the way Cohen was described following the precedent-setting ruling by the second circuit court of appeals that overturned the convictions of traders Anthony Chiasson and Todd Newman. Now it won’t be enough just to show that traders relied on “material non-public information” to buy or sell stocks. Prosecutors will have to prove that traders have complete knowledge that the information they used was of the illegal variety, and that some sort of gift of “consequence” was exchanged with a tipper to get the insider information....Indeed Cohen’s festive mood was front and center at the company’s annual holiday party, held at the swanky Cipriani 42nd street location just hours after the second-circuit decision on Wednesday. That’s when the normally reticent Cohen gave a speech where he told astonished traders and executives that “today we received very good news” from the courts that would benefit both the firm going forward and its traders who have been snared in the crackdown, according to people who were in the room.