Viking Fund Off Hook Over Ousted Co-Founder

Law360, New York (May 15, 2009, 12:00 AM EDT) -- Hedge fund group Viking Global Investors LP has prevailed in a long-running legal spat with ousted co-founder Brian T. Olson, who sued the fund on his departure seeking a multimillion-dollar stake in the investment management firm.

Judge Stephen Lamb of the Delaware Court of Chancery ruled Wednesday that Olson, who co-founded the Greenwich, Conn.-based firm with Andreas Halvorsen and David Ott in 1999, had no contractual right to an equity interest in the fund on his departure.

An oral agreement reached among the trio several months...
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