Hedgie tries to stop wife from suing him

Hedge Fund

A lawyer for SAC Capital Advisors founder Steven Cohen urged a judge to dismiss a lawsuit by his ex-wife, who claims he ran his hedge fund as a racketeering enterprise.

Bloomberg reports that Patricia Cohen sued her ex-husband in 2009, claiming SAC engaged in insider trading, bank fraud, money laundering and other acts that violated the Racketeer Influenced and Corrupt Organizations Act. Patricia Cohen called SAC 'the product of an ongoing racketeering scheme'.

The suit is 'basically a matrimonial claim' that should be heard in state court, Martin Klotz, a lawyer for Steven Cohen, told U.S. District Judge William Pauley in Manhattan.

The suit was dismissed in 2011 by U.S. District Judge Richard Holwell, who said Patricia Cohen took too long to bring her claims. In April, the U.S. Court of Appeals in New York reinstated the case, saying it was filed in time.

To access the complete Bloomberg article hit the link below:

SAC Capital's Cohen Seeks Halt of Ex-Wife's Lawsuit:

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images: © Clyde Robinson, © Clyde Robinson

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