One of hedge funds’ longest-running legal battles is set to ramp up again with $165 million in pay on the line
A long-running legal dispute between two former traders and Touradji Capital is heading to trial again after nearly two decades. The case centers on an alleged oral agreement regarding profit-sharing bonuses, with the total claim now reaching $165 million due to accrued interest.
Why it matters
The case highlights the risks of relying on oral agreements in high-stakes financial compensation and the extreme longevity of complex litigation in the hedge fund industry.
Gentry Beach, center, is one of two traders who have been in a legal fight with their former employer for nearly two decades. Bennett Raglin/Getty Images for GQ In 2008, a pair of traders sued their boss over compensation they believed they were owed. The case of Gentry Beach and Robert Vollero vs. Touradji Capital has gone on for nearly two decades. There's another trial set for later this month to determine if the pair will get $165 million. A legal battle that has spanned close to two decades is getting ready to rev up once again. In December of 2008, weeks after Barack Obama was elected as President for the first time, Gentry Beach sued his former employer, Touradji Capital, over compensation he believed he was owed. His former colleague, Robert Vollero, was added to the suit in early 2009.
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