Patricia Cohen, the ex-wife of SAC Capital’s Steve Cohen, has dropped her $300 million dollar lawsuit against her ex-husband. The suit, which accused the billionaire hedge funder of racketeering and covering up marital assets during their 1990 divorce, was one of several recent complaints that leveled insider-trading charges against the world’s most secretive hedge-fund manager, and an investigation thereof might have punctured the bubble of mystique surrounding his operations. So why give up? Possibly, the ex Mrs. Steve Cohen was intimidated by his lawyers’ request that her lawyers be sanctioned for filing what they deemed a “frivolous” complaint. Or possibly, the lawsuit was only ever a vehicle for the Mrs. to release the totally embarrassing, just as mystique-puncturing video of her ex-husband on Spanglish talk show Cristina.
Let’s all watch it again, in memoriam.
Lawsuit by Cohen’s Ex-Wife Is Dropped [DealBook/NYT]