Government wants more time in Steven A Cohen case

The civil case against the SAC founder could bar Cohen from the securities industry

Steven A Cohen's summer just got a little longer. The US Attorney's office asked an administrative judge to extend a delay in the Securities and Exchange Commission's civil case against the former hedge-fund manager, pending the completion of other related criminal insider-trading cases.

The civil case against Cohen, founder of the firm formerly known as SAC Capital Advisors, has been postponed since August of last year. He faces a potential lifetime ban from the securities industry if found guilty of failure to supervise two employees later found guilty of insider trading.

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