SAC Capital, Founder Dropped From $8B Fairfax Suit

Law360, New York (September 14, 2011, 7:27 PM EDT) -- A New Jersey judge on Monday dismissed SAC Capital Advisors LP and its founder Steven A. Cohen from an $8 billion suit brought by Fairfax Financial Holdings Ltd. that accused the hedge fund of a disinformation campaign to artificially lower Fairfax's share price.

Judge Stephan C. Hansbury granted the hedge fund titan's motion for summary judgment, saying the crux of Fairfax's case — that SAC would profit from a drop in Fairfax stock — was wrong, because SAC actually held positions that would have benefited from...
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