Today, Judge Preska granted summary judgment in favor of Steven Cohen on fraud and breach of fiduciary duty claims brought by his former wife, Patricia Cohen.  The case was originally filed in 2009 (see our previous coverage here) against Steven Cohen, the former head of SAC Capital Advisors.  In the complaint, Patricia Cohen claimed that Steven Cohen had defrauded her during their divorce in the late 1980s by hiding assets using a Queens real estate investment.

Continue Reading Judge Preska Grants Steven Cohen Summary Judgment in Long-Running Case Brought by Former Wife

In an opinion today, Judge Pauley granted in part and denied in part a motion by SAC Capital’s founder Steven Cohen to dismiss claims that he misled his ex-wife Patricia in connection with their divorce settlement. Patricia Cohen alleged that Steven Cohen falsely told her that a certain real estate investment, referred to as the “Lurie Investment,” was worthless, when in fact he received a $5.5 million settlement arising from the investment. The divorce settlement included a clause stating that Steven Cohen made no representations about the investment’s value, and a general merger clause, but Judge Pauley found that those statements did not negate the possibility of fraud:
Continue Reading Judge Pauley Allows Steven Cohen’s Ex-Wife to Pursue Fraud Claims Over Allegedly Hidden Investment Value