Billionaire hedge fund manager Steven Cohen lost a bid Monday to dodge fraud claims brought by his former wife related to their 1990 divorce. A federal judge in Manhattan let Patricia Cohen’s common law fraud and breach of fiduciary duty claims proceed, but he knocked out RICO claims against Cohen, his brother and an ex–business partner.
U.S. District Judge William Pauley III also had barbs aplenty for both sides in Monday’s 20-page decision. “As the caption of this case suggests, this is a family dispute,” he wrote. “The only thing that distinguishes it from countless others is the seemingly inexhaustible legal resources that each side has brought to bear.”
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