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

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Is Steven Cohen Going to Buy the Brooklyn Nets?

Jan 19 2015 | 6:49am ET

Rumors that Steve Cohen was interested in the Brooklyn Nets emerged after Scott...

Guest Contributor

Investors Benefit From Evolution Of Fund Of Hedge Funds Model

Jan 22 2015 | 12:27pm ET

The evolution of the fund of hedge funds model over the last few years represents...

 

Editor's Note