SAC's Cohen Sees Ex-Wife's $3M Suit Revived By 2nd Circ.

Law360, New York (April 3, 2013, 4:48 PM EDT) -- SAC Capital Advisors LP founder Steven Cohen, already under heavy scrutiny for alleged insider trading at the hedge fund, suffered another legal setback Wednesday when the Second Circuit partially revived a $2.75 million fraud suit by his ex-wife claiming he hid assets from a real estate settlement during their 1990 divorce.

A three-judge panel reinstated Patricia Cohen’s fraud and breach of fiduciary duty claims stemming from the separation, saying a lower court judge misinterpreted a recent U.S. Supreme Court precedent's requirement that civil claims be “plausible.”...
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