Cohen fund lawyers want suit hush-hushed
Hedge fund billionaire Steve Cohen doesn’t want his potentially dirty secrets aired in public.
Lawyers for Cohen’s Point72 Asset Management hedge fund have asked a federal judge to dismiss a lawsuit filed earlier this week by an employee, Lauren Bonner, who claimed the firm discriminated against women.
Bonner’s employment agreement compels her to handle all employ- ment-related disputes privately in arbitration — and not in public in a court, Cohen’s legal eagles said in court papers.
“By filing her claims in court, [Bonner] is in violation of the arbitration provision of the agreement,” lawyers for Point72 wrote.
The lawyers requested that, if the case is not dismissed, proceedings be halted until the end of arbitration.
Bonner has until Feb. 28 to rebut Point72’s motion.
Bonner’s suit claims Point72’s management team fostered a “boys’ club atmosphere” where women are excluded from meetings and senior roles.
Doug Haynes, the president of Point72, and Cohen are listed as defendants in the suit — although there are not specific allegations against Cohen.
The 32-page suit, filed in Manhattan federal court, lists three instances in which Bonner claims she was paid less than “similarly situated male counterparts.”
Bonner also alleged that Haynes wrote the word “pussy” on a whiteboard in his office and let the derogatory term remain there for weeks while he held meetings in his office.
Point72 emphatically denied the allegations Monday.
“We stand by our record of hiring and developing women. In an industry where women are historically underrepresented, the hundreds of women at Point72 are vital members of every part of our organization,” Point72 said.