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: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note