Hedge Fund Viking Wins Compensation Battle With Fired Founder

May 21 2009 | 10:38am ET

The co-founder of hedge fund Viking Global Investors has been denied even a red cent, losing a his legal battle with his former compatriots.

A Delaware judge last week dismissed Brian Olson’s lawsuit against Greenwich-based Viking and co-founders Andreas Halvorsen and David Ott. Olson was fired in 2005—after making $150 million since 1999—and he sued, demanding the “fair value” of his equity stake in the firm, which he estimated at $250 million. He also claimed he had an oral agreement with Halvorsen and Ott, who allegedly promised him a six-year earnout totaling $100 million.

But following a six-day trial in November, Vice Chancellor Stephen Lamb ruled in favor of Viking and its remaining founders, awarding Olson nothing, the Am Law Litigation Daily reports. Olson probably shouldn’t be surprised by the ruling—Lamb granted summary judgment to Viking on the $100 million earnout claim in October—but is no doubt disappointing to him all the same.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...