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Fifty-nine-year-old American billionaire and hedge fund manager Steven Cohen won the dismissal of a long-running lawsuit lodged against him by his ex-wife, Patricia Cohen, last Thursday, May 19. Patricia claimed that Cohen successfully shorted her and hid millions of dollars worth of assets in their 1990 divorce.
Chief Judge Loretta Preska of the U.S. District Court in Manhattan decided that Patricia Cohen did not provide enough evidence that Steven Cohen had indeed cheated her out of the money that should have rightfully been given to her. Patricia claims Cohen hid $5.5 million, which was obtained from a New York City real estate transaction, by saying that the money had already been spent. The Cohen’s divorce came two years prior to Steven Cohen’s creation of Stamford, Connecticut-based hedge fund firm S.A.C. Capital Advisors, which planted Cohen’s name on Wall Street and raised him to a net worth of $12.7 billion, according to Forbes.
Divorce proceedings are difficult periods for all parties involved. If you need legal representation for an ongoing divorce case in North Carolina, legal assistance from the attorneys at Marshall & Taylor PLLC will be a valuable asset. Let us help you handle your divorce by calling our offices at 919-833-1040.