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Touradji Capital pay dispute returns to trial
The former traders, Gentry Beach and Robert Vollero, are seeking about $165m in damages and accrued interest after the case dates to a 2008 compensation lawsuit.
A long-running hedge fund compensation dispute tied to Touradji Capital is set to return to trial later this month, according to Hedgeweek. The case involves former traders Gentry Beach and Robert Vollero, who are seeking as much as $165m in damages and accrued interest.
The litigation dates back to December 2008, when Beach sued Touradji Capital over compensation he said he was owed under an agreement with the firm founder, Paul Touradji. Vollero later joined the lawsuit in early 2009.
Beach and Vollero alleged that Touradji verbally promised them a fixed share of profits generated by their trading strategies. They originally sought about $60m, while Touradji has disputed the claim, arguing compensation was discretionary rather than governed by a fixed profit-sharing arrangement.
Hedgeweek reported that, nearly 18 years after the initial filing, interest has increased the total claim to about $165m. A virtual pretrial hearing was held this week as lawyers prepared for the upcoming trial.