Cohen, SAC Are Dismissed From $8 Billion Fairfax Lawsuit
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Billionaire Steven A. Cohen and his SAC Capital Advisors LP won their bid to be dropped from an $8 billion lawsuit accusing them and other hedge funds of spreading negative information to drive down Fairfax Financial Holdings Ltd.’s stock price.
New Jersey Superior Court Judge Stephan C. Hansbury in Morristown on Sept. 12 granted Cohen and Stamford, Connecticut-based SAC Capital’s request that he rule in their favor without the need of a trial.