Steve Cohen Continues To Have A Tough Old Time

Depressed - Head In Hands

A group of burned investors wants Steve Cohen’s SAC Capital to fork over nearly $1bn - cash the hedge-fund giant earned by trading on alleged inside information of drug company Elan Corp.

The New York Post reports that ex-portfolio manager Mathew Martoma has been indicted in the case and is set to go to trial as early as this year.

The Elan shareholders filed an amended class action complaint in Manhattan federal court Tuesday and said they are able to pinpoint their damages because the Securities and Exchange Commission, in its civil settlement with SAC, did all the legwork.

$uit says Cohen is big loser

In the meantime, The New York Times reports that the former wife of the hedge fund mogul Steven A. Cohen has a new lawyer in her bitter legal dispute with her former husband.

Patricia Cohen has hired Joshua L. Dratel, a New York trial lawyer, to represent her after a federal appeals court revived her lawsuit last month. He is expected to formally enter the case as soon as Wednesday, according to people briefed on the matter.

Ms. Cohen has accused her former husband of hiding millions of dollars in assets at the time of their divorce more than two decades ago.

Ex-Wife of SAC’s Cohen Hires New Lawyer in Revived Lawsuit

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