KeyGate Ends As Ex-Hedge Fund Manager Settles

Feb 11 2011 | 8:28am ET

Richard Grubman, the now former Boston hedge fund manager accused of assaulting a valet at the city's Ritz-Carlton Hotel, has settled with his victim and seen the criminal case against him thrown out.

Richard GrubmanRichard GrubmanGrubman, the founder of Highfields Capital Management, agreed to pay Joseph Lubin an undisclosed amount. In return, Lubin agreed to drop the charges against him, which was done Wednesday in a Boston courtroom.

"I have received satisfaction for my injury and request that the criminal charges be dismissed against Richard Grubman," Lubin said. The valet added that the settlement was reached privately between the two men, who shook hands awkwardly after the court appearance.

Grubman was arrested in April after allegedly throwing a temper-tantrum as he arrived for dinner at the Blu restaurant at the Ritz. When Lubin, a valet for the Ritz’s residents, asked him to move his car, Grubman allegedly threw his keys at the valet, hitting him in the face, and showered Lubin with obscenities. According to the police report, Grubman continued to curse a blue streak after the authorities arrived, beginning “to yell and scream, stating he was being abused.”

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