A Matter Of Timing: Former Hedgie May Not Get Paid

Nov 14 2008 | 2:00am ET

An ex-hedge fund manager may not get $1.8 million from his former employer because of a legal technicality.

Last year, Paul Bottum won a $1.83 million judgment against Jundt Associates after a Minneapolis court ruled that Jim Jundt—the former owner of the National Football League’s Minnesota Vikings—and his son Marcus failed to make good on a promise of a $1 million bonus for each year Bottum’s hedge fund topped the Standard & Poor’s 500 Index. But the Minnesota Court of Appeals has sent the case back to the lower court, ruling that Bottum may have failed to file his lawsuit before the statute of limitations expired.

Jundt Associates, which is no longer run by the Jundt family, had appealed the lower court ruling, arguing that Bottum had missed the three-year statute of limitations. The bonuses in question would have been for 2000 and 2003.

The Court of Appeals did not overturn the award precisely, but did rule that the lower court’s “findings and conclusion are inadequate” to determine when, exactly, the statute of limitations started ticking.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of