Hedge Fund Execs' Bonuses Aren't Guaranteed: Judge

Law360, New York (February 10, 2010, 4:04 PM EST) -- Two executives with a New York hedge fund have lost a bid to have purportedly guaranteed bonuses paid to them, with a federal judge ruling the bonus pay was discretionary.

Plaintiffs Todd Dittman and Susan Chen are entitled only to their basic wages, notwithstanding protestations that they were promised bonuses, Judge Melinda Harmon of the U.S. District Court for the Southern District of Texas said in a Tuesday order granting the hedge fund's summary judgment motion.

The two sued D.B. Zwirn & Co. LP, a hedge...
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