T-bone1 Posted September 14, 2011 Share Posted September 14, 2011 dissapointing, but not surprising. Cohen apparently learned from Milken and I would be shocked if there is much, if any, hard evidence to link SAC to any conspiracy - despite the fact that they may have encouraged/participated in/masterminded it Link to comment Share on other sites More sharing options...
AZ_Value Posted September 14, 2011 Share Posted September 14, 2011 http://www.bloomberg.com/news/2011-09-14/cohen-sac-capital-win-bid-to-be-dropped-from-fairfax-suit-over-share-drop.html Link to comment Share on other sites More sharing options...
Parsad Posted September 14, 2011 Share Posted September 14, 2011 The good thing is that no one else has been dropped. While it's preferable to kill the body of the snake, chopping heads isn't bad either. Some of these guys are definitely guilty, and Fairfax is going to nail a few of them...progress! Cheers! Link to comment Share on other sites More sharing options...
KFRCanuk Posted September 14, 2011 Share Posted September 14, 2011 The good thing is that no one else has been dropped. While it's preferable to kill the body of the snake, chopping heads isn't bad either. Some of these guys are definitely guilty, and Fairfax is going to nail a few of them...progress! Cheers! Who is left in the lawsuit? Link to comment Share on other sites More sharing options...
T-bone1 Posted September 14, 2011 Author Share Posted September 14, 2011 http://www.reuters.com/article/2011/09/14/saccapital-lawsuit-idUSS1E78D0VH20110914?feedType=RSS&feedName=financialsSector&rpc=43 The judge has yet to rule on motions filed by other hedge fund defendants, including Daniel Loeb's Third Point Financial and Jim Chanos' Kynikos Associates, to dismiss the five-year-old lawsuit. "After five years of litigation, the court's ruling affirms, as we have always maintained, that this vexatious proceeding against us was entirely baseless and without merit," said SAC Capital's general counsel, Peter Nussbaum. A spokesman for Fairfax said the insurer will appeal the ruling, "which it believes is incorrect." Reuters, along with Bloomberg News, are intervenors in the civil lawsuit, seeking access to millions of pages of documents and depositions that have been sealed in the case. Reuters, for instance, is opposing a motion to keep sealed portions of Cohen's lengthy deposition in the dispute. Link to comment Share on other sites More sharing options...
ubuy2wron Posted September 19, 2011 Share Posted September 19, 2011 I may be wrong but I think the Sith Lords (LOL) are a pretty smart bunch. I think most of the dirty work is done by the hedgies which USED to have a connection with SAC. SAC may have an investment or Stevie may have an investment but it sure is not going to show up on any of SAC's trading records. "Ya we had some dough with ABC hedge fund but we had no knowledge on how the money was invested other than general strategy or reputation of the mgr". It is a pretty decent fire wall as long as every one keeps their mouth shut. Since a civil suit even a RICO action only has monetary penalties it is unlikely the circle of silence ever gets breached. It is all a bit dis heartening people have given Stevie dough because they were pretty sure he was cheating same was true for Madoff. Link to comment Share on other sites More sharing options...
given2invest Posted September 21, 2011 Share Posted September 21, 2011 you guys are funny ;D Link to comment Share on other sites More sharing options...
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