Court Rules For Touradji On Ex-Employees' Computer Files

Aug 22 2012 | 11:51am ET

Touradji Capital Management has won the right to review a forensic report about two personal computers owned by a man seeking more than $25 million from the hedge fund.

A New York State appeals court overturned a lower-court ruling that found the reports, about Robert Vollero's personal laptops, were privileged and therefore did not have to be revealed to Touradji. Vollero and another former Touradji portfolio manager sued the hedge fund seeking more than $50 million in withheld bonuses; Touradji responded by accusing the two of "fraud," "mismanagement and utter disregard for the interests of the investors," and filed a countersuit accusing the two of stealing its proprietary information to found a rival firm.

Vollero's lawyers had a forensic specialist inventory the two computers that Touradji had sought to have examined. And they won a ruling in a lower court that found the reports to be privileged attorney work.

But the Appellate Division disagreed, ruling that only the "impressions, directions, etc., of counsel" were attorney work and that the lower court "should have conducted an in camera review to ascertain whether any portion of the reports is attorney work product," Law360 reports.

The three-judge panel ordered the lower court to hold such a review.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR