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Steven A. Cohen got a reprieve on Thursday, albeit a small and temporary one, when an administrative law judge approved a request to stay a case brought by securities regulators, who have accused the billionaire hedge fund manager of failing to supervise two of his employees. … Federal prosecutors in New York had requested the […]
Manhattan U.S. Attorney Preet Bharara asked an administrative judge to stay the Securities and Exchange Commission’s action against billionaire Steven A. Cohen until related criminal cases against his hedge fund and two former employees are resolved. In a document dated July 26, Bharara said the SEC enforcement staff doesn’t object to postponing the administrative proceeding, […]
Absence of stay may lead to Fifth Amendment issues in SEC cases.