Football Coach Seeks Dismissal Of Fraud Lawsuit

Apr 4 2012 | 2:25am ET

Tommy Tuberville was a victim of his own hedge fund, the Texas Tech University football coach has said as he seeks to have a lawsuit against him dismissed.

Tuberville said he lost the $450,000 he invested in TS Capital, which he set up with John David Stroud. Tuberville, Stroud and TS were sued by investors who claimed that the two men and their firm lied to clients and used the firm as a personal piggy bank.

Tuberville has previously denied the allegations, noting that he never solicited any of TS's investors and was not involved in the day-to-day operations of the Auburn, Ala.-based firm. He went even further in the motion to dismiss, saying that none of the investors suing him offer "any assertion—much less any facts—that Coach Tuberville's statements… induced any of their investments."

The Commodity Futures Trading Commission said last month that it is investigating Stroud, but did not mention Tuberville.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Moore Capital PM Fired After Raucous Hamptons Party

Jul 7 2016 | 10:47pm ET

A portfolio manager for Louis Bacon’s $15 billion hedge fund Moore Capital Management...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...