\u201cI will not pay you, I will not pay you a dime, you know, and before this is done and over, your wife will be here in the office, here on her knees, begging for mercy,\u201d a hedge fund founder and defendant yelled at an employee in 2008 according to witness trial testimony<\/p>\n
After more than 10 years of litigation, some 60 depositions, 11 counterclaims, around 900 docket entries and a three-week trial, a jury decided that a Manhattan hedge fund must pay two former portfolio managers $46 million for breaching verbal compensation agreements made in the days when hedge funds new high.<\/p>\n
The jury\u2019s awards\u2014$21.4 million to former Touradji Capital Management portfolio manager Gentry Beach and $24.3 million to former Touradji portfolio manager Robert Vollero Jr.\u2014will balloon to a nearly $91 million total payout because of 9% yearly interest to be added to compensation that was earned from 2005 to 2008.<\/p>\n
The defendant hedge fund, however, driven by its aggressive and reportedly brash founder, Paul Touradji, recently filed a notice of appeal in the case to the Appellate Division, First Department. The verdict came down in May. And so the epic litigation lives on. \u201cI will not pay you, I will not pay you a dime, you know, and before this is done and over, your wife will be…<\/p>","protected":false},"author":2,"featured_media":60202,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-46134","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-firm-news"],"acf":[],"yoast_head":"\n
\nAfter_Decade_Long_Legal_Fight_Hedge-2<\/a>
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