Touradji Capital pay dispute heading back to court
One of the hedge fund industry's longest-running compensation disputes is heading back to court, with former Touradji Capital traders Gentry Beach and Robert Vollero seeking as much as $165m in damages and accrued interest, according to a report by Business Insider. The dispute dates back to December 2008, when Beach sued Touradji Capital over compensation he said he was owed under an agreement…
A long-standing compensation dispute between former Touradji Capital traders Gentry Beach and Robert Vollero, and the hedge fund itself, is set to return to court. The case, which began in December 2008, centers around allegations that Touradji founder Paul Touradji verbally promised the traders a fixed share of profits. Initially seeking $60m, the claim has grown to $165m after nearly 18 years, including accrued interest.
The dispute centers on the existence and terms of an oral agreement, with evidence presented from Beach, Vollero, Touradji, and industry figures such as Todd Kantor and Josh Goldstein. The case, which has faced challenges in revisiting events prior to the global financial crisis, will be heard later this month.
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