Casino Security Might Want To Think Twice About Roughing Up Hedge Fund Managers Dropping Five Figures In Their Club

Chances are, they have many more than five figures with which to pay lawyers to sue you into oblivion.
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Stick to the tables and slots; it's safer. By Clément Bardot (Own work) [CC BY-SA 4.0], via Wikimedia Commons

Stick to the tables and slots; it's safer. By Clément Bardot (Own work) [CC BY-SA 4.0], via Wikimedia Commons

A few years ago, David Moradi was a high-flying hedge fund manager, spending about $10,000 of the $11 million he earned the previous year at Las Vegas’s Cosmopolitan, specifically its Marquee nightclub, where he was presumably enjoying just the right amount of wrong that the casino promised its guests. (You remember the commercial.) Then, something happened, and he found himself not enjoying a very large and wrong amount of wrong.

“The Marquee security members and manager shoved David to the ground, causing his head to forcefully hit the concrete surface,” the suit states. “The Marquee security members and manager repeatedly hit and smashed David’s head into the concrete and continually held his head and right eye against the concrete with a high degree of pressure.”

He became disoriented during the attack, and stopped in a restroom after he was escorted out of the casino, according to his lawsuit. He noticed his injuries, and when he returned to the Wynn, where he was staying, a VIP host “became alarmed” when he saw his condition and arranged for a Wynn driver to take him to Desert Springs Hospital.

Moradi was diagnosed with a concussion. He also suffered a bruised right eye, head swelling and sore arms, knees and neck. He had difficulty walking and concentrating and endured headaches, disorientation and anxiety, according to his lawsuit. A Las Vegas neurosurgeon diagnosed him with a traumatic brain injury.

That’s how you’re supposed to treat well-heeled guests: You take them to the hospital when needed, not send them to the hospital. You’d think the Blackstone Group would know better.

How, exactly, Moradi went from quaffing five figures worth of champagne to a trip to the emergency room remains a matter of some dispute, as does what has happened since. Moradi maintains he had paid his bill when the Cosmo muscle dragged him to the security room and began beating him around the head, the result of which, he says, is that he can’t manage hedge funds anymore. The Cosmo doesn’t exactly dispute this, noting that there was simply a “problem with his signature,” which problem Moradi sought to resolve not by handing over his ID and credit card once again, but by headbutting the club’s general manager. They also say they didn’t rough him up that badly, and that his hedge fund was failing anyway. (Also, he used to work with Martin Shkreli. The Cosmo didn’t say so, but it seems to bear noting.) To say that this failed to convince the jury would be something of an understatement.

A New York City hedge fund manager who sued the Marquee nightclub after he was attacked by a manager and security officers won a $160.5 million jury verdict this week.

Oh, and that’s just the start.

The same jury that awarded Moradi nine figures on Wednesday for past and future wages is expected to decide punitive damages against the defendants Friday, as the five-week trial concludes.

Attack at Las Vegas Strip nightclub leads to $160M verdict [Las Vegas Review-Journal]

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