Saturday, 30 August 2014
Last updated 18 hours 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."
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...