Monday, 20 October 2014
Last updated 22 min ago
Mar 14 2011 | 1:00pm ET
JPMorgan Chase has settled a lawsuit filed by an employee that accused hedge fund Highland Capital Management of "highly questionable accounting and management practices."
Kevin Dillon, a client processing specialist at JPMorgan's Greenwich, Conn., office, withdrew his July 2010 lawsuit after reaching an out-of-court resolution. The settlement, terms of which were not disclosed, came as JPMorgan sought to have the lawsuit thrown out, claiming that Dillon was not punished by the firm for claiming that Highland was "artificially manipulating" the value of some of its assets, including those held by a hedge fund that collapsed three years ago.
In his lawsuit, Dillon claimed that JPMorgan tried to force him out of his job and that a supervisor, who was not identified, "described to him the violent acts he would commit if anybody crossed him or his family."
The same supervisor told Dillon that JPMorgan "was aware of Highland's improper practices and that nothing would be done to remedy the issue."
Highland has denied any wrongdoing, calling itself a "pawn in a lawsuit by a disgruntled JPMorgan employee against JPMorgan."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...