Raptor’s Pallotta Fined As His Celtics Go Down

Jun 18 2010 | 11:38am ET

Yesterday was not a good one for former Raptor Capital Management chief James Pallotta.

First, the one-time Tudor Investment Corp. star trader learned he’d have to pay $100,000 for his outburst during game three of the National Basketball Association finals. Then, Pallotta, a co-owner of the Boston Celtics, watched his home-town team go down to defeat in the seventh and final game, making the arch-rival Los Angeles Lakers NBA champions.

Pallotta, who shuttered Raptor last summer shortly after spinning it out from Tudor, had confronted NBA Commissioner David Stern in Boston 10 days ago about the quality of officiating. He told Stern—who has taken a hard line against owners and coaches criticizing the league’s referees—that he should be embarrassed.

Pallotta has expressed contrition.

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