Monday, 22 December 2014
Last updated 3 hours ago
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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.