NYC Comptroller CIO Sues Former Firm For $10M

Law360, New York (July 14, 2010, 5:04 PM EDT) -- Lawrence Schloss, chief investment officer for New York City's comptroller, has launched a $10 million action against Diamond Castle Holdings LLC, the investment capital company he founded in 2004, claiming it has failed to pay him due compensation.

Diamond Castle and its principals breached a 2004 limited liability company agreement with Schloss, according to a summons he filed Monday in the New York County Supreme Court.

The summons says Schloss will allege breach of the implied covenant of good faith and fair dealing, breach of fiduciary...
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