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.”...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.