After a three year, SEC-administered cavity search, the fund that made Brian Hunter and natural gas futures famous was given the all clear last month. The years of going back and forth with the SEC about where the ethical and legal lines in the sand are drawn seems to have left quite an impression. Amaranth is now going after Paul Touradji and some of his deputies for at least $350 million in connection with Touradji Capital’s alleged repeated breach of contract and misuse of proprietary information.
Amaranth says Touradji breached two contracts agreed to in September 2008 regarding the transfer and purchase of Amaranth’s base-metals portfolio, according to a complaint filed Sept. 18 in New York State Supreme Court in Manhattan. Touradji and employees at Touradji Capital Management LP used the information “to recover profits obtained by defendants through improper trading practices and misuse of plaintiffs’ proprietary and confidential information,” according to the document.
So a major player in financial markets turns the table and goes on legal offense once the wolves get called off. If this is any guide, Bank of America is going to make Dick Bove look like the second coming of Nostradamus.
Amaranth Advisors Sues Touradji, Seeking at Least $350 Million [Bloomberg]
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Greg,
I want to superglue your biceps to corresponding sides of your face to make it seem as though you’re a roller-coaster enthusiast.
- Jeff Macke
Jeff Macke is the best thing that happened to DB after Bess
Jeff Macke is the best thing that happened to DB after Bess
Gregory,
While I was cleaning your room, I found a plastic penis under your mattress. We need to have a talk.
~ Mom
Jeff Macke FTMFW!
Dear Greg -
Please D.I.A.F.
Love,
Mom
“and some of his deputies?” No point in that, it’s not like they get paid. Take a ticket and get in line behind them at the courthouse