Do Not Mess With Paul Touradji, Part Two Of A Series

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Paul Touradji knows his way around a courtroom. He also knows how to write a strongly-worded countersuit. So if you're planning to tussle with him, you'd better have your ducks in a row.
Nick Maounis failed to heed this advice in September, but he's (wisely) had a change of heart, with a little help from Touradji. The Amaranth Advisors founder had his corpse of a hedge fund sue Touradji Capital Management for breach of contract and insider-trading, pointing the finger squarely at its namesake.
Well, Paul Touradji has set Nick straight, and the latter offers up a sufficiently meek "explanation" for why he backed down in a joint statement.

...since filing the summons and notice, and consistent with their role as fiduciaries, the Amaranth parties have continued their investigation of the claims and of the transaction. Since then, Amaranth has received and evaluated additional information regarding the transaction, including trading records and other information voluntarily provided by Touradji Capital, that is consistent with Touradji Capital's position that it did not violate the agreement with Amaranth and did not misuse Amaranth's proprietary information.

Well, we have it on good authority that the "information" voluntarily provided by Touradji included a draft countersuit. Selections follow.

  • Maounis was responsible for the destruction of billions of dollars of investor capital through a pattern of ineptitude, stupidity and ill-conceived self-regard.
  • Maounis hired this guy.
  • Maounis, while telling investors that he was running a multi-strategy hedge fund, allowed that guy to build up catastrophically bad natural gas positions that were large enough to wipe out the fund.
  • Maounis gave this guy unbridled freedom to do whatever he wants, including maybe kinda manipulating natural gas futures markets, as a result of their intimate relationship.
  • Speaking of nakedness, Maounis was forced to pay a bunch of money Amaranth didn't have to the Securities and Exchange Commission to settle naked short-selling charges.
  • Of all the reporters, bloggers, columnists and CNBC employees on earth, Maounis chose to employ Dealbreaker as his mouthpiece.

Amaranth and Touradji Capital Management LLC Issue Joint Statement Concerning Withdrawal of Case [press release]
Amaranth Drops Suit Against Touradji [FINalternatives]

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What To Do (Or Not Do) Upon Waking Up In A Car "Driving Through A House," Part II

Back in May, we had a frank discussion about drinking with colleagues and/or clients after work. Specifically, how many drinks one should put away in order to have a good time but not cross any unfortunate lines. At the time, we used a young lady named Sophia Anderson as our guide and said that, assuming you have the tolerance of a 21 year-old female and considered being arrested post-Happy Hour for driving your through a stranger's house one of those lines, no more than a dozen beverages should be consumed, with fourteen being the absolute max. Today we have just a quick update, to those for whom it bears mentioning, that if you're going to ignore said guidelines and have that fifteenth cocktail shortly before accepting a ride home from an equally sloshed coworker who confuses someone's front lawn/foyer/kitchen/backyard patio with the road, you should probably not agree to lie to the police and say you were the one driving. Not even if you're secretly in love with him or her; not even if he or she promises to take take you on vacation after all of this blows over; not even if you were passed out the whole ride and a bit disoriented after "[waking] up as the incident occurred and the car drove through the house." The sneaky punk who conned his drunk and coked-up girlfriend into taking the DWI rap for crashing through, and trashing, a Long Island home in his mom’s Mercedes convertible, was finally charged today with the May 28 crash and ordered held without bail. Suffolk DA Tom Spota said Dan Sajewski, 23, tricked Sophia Anderson, 21, into telling cops that she was behind the wheel when he crashed through the Huntington home of a 96-year-old woman – taking a 30-foot tree with him from the front to the back yard. Spota said the incredible demolition derby was the end result of a night of boozing and cocaine snorting at the $1.7 million mansion of Sajewski’s parents in exclusive Lloyd Harbor – when Sajewski and Anderson took a high speed joyride for more beer. ``We know what really happened that day,’’ said Spota at a press conference after the court session. He said the couple, along with three pals, were doing shots of Jack Daniels and snorting coke at Sajewski’s doctor dad’s home until 4 a.m. The crash occurred during a trip for more Heineken beer, while Sajewski was driving, said Spota. He said Anderson was passed out in the passenger seat and ``told us she wakes up as the incident is occurring and they were driving through the house.’’ Spota said Anderson ``was in love with him’’ and agreed to take the rap, after he promised to pay her bail and legal bills – and take her on a vacation. He broke his word and she revealed it was all a lie. The DA said that when an x-ray technician at the hospital told her she could not have been the driver because of her injuries, Anderson told him ``it’s a little too late for that.’’ LI punk held without bail for May 28 crash that destroyed elderly woman's home [NYP via DI] Earlier: Area Drunk Offers Handy How To Guide Re: Not Being Labeled “That Guy (Who Uses The Front Door Of A House As A Garage Door)” At The Office