Cohen Wins Another Round in Divorce Battle With Ex-Wife

Updated on
  • Patricia Cohen indicates she may again appeal dismissal
  • Divorce battle over assets has dragged out for seven years

SAC Capital Advisor LP founder Steven Cohen won another round in a seven-year battle with his ex-wife over claims he cheated her in their 1990 divorce as a judge threw out the complaint a second time.

Despite her many setbacks, Patricia Cohen’s lawyer said she might appeal again.

Patricia claimed in a 2009 lawsuit that Steven hid millions of dollars in assets when they split and had accused him of running his hedge fund as a criminal enterprise. Her lawsuit was dismissed in 2011 by a judge who ruled she took too long to sue.

In April 2013, the U.S. Court of Appeals in New York reinstated the suit, saying it was filed in time. Without ruling on the merits of her case, the court said she had validly asserted claims that her ex-husband violated the racketeering law, committed fraud and breached his fiduciary duty. The racketeering claim was thrown out by another judge in 2014.

U.S. District Judge Loretta Preska, the third judge to preside over Patricia’s lawsuit, again determined in a ruling issued Thursday that the claims were filed too late and weren’t supported by evidence.

“Patricia has not produced evidence of any bank account, canceled checks, property, other other assets belonging to Steven which he did not disclose to her in his 1988 Financial Statement,” the judge wrote. “There is no evidence that Steven concealed any assets from Patricia during the divorce."

Jonathan Gasthalter, a spokesman for Steven, said they’re pleased with the court’s “thorough and thoughtful decision.”

Seven-Year Fight

While Cohen and his ex-wife have fought for seven years over millions of dollars, his wealth has grown to dwarf those assets, almost doubling to reach $11.2 billion, according to data compiled by Bloomberg. He ranks 90th on the Bloomberg Billionaires Index.

“We respectfully disagree with the decision,” Patricia’s lawyer Gerald Lefcourt said in an e-mailed statement. “If all the evidence were put before a jury we believe a jury would find for Mrs. Cohen. Fortunately, she can choose to pursue an appeal.”