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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.