Highland's Ex-PE Chief Fights Claim He Led Illegal Trade

Law360, Dallas (January 29, 2014, 8:15 PM EST) -- The former private equity chief for Highland Capital Management LP on Tuesday pushed back in Texas state court against the hedge fund’s assertion that he set up an illegal compensation vehicle, characterizing it as an attempt to get out of paying him millions in incentives he had earned.

In the first day of defense testimony, Highland’s former No. 3 executive, Patrick Daugherty, called witnesses who said a compensation fund set up for the firm’s private equity team wasn’t all Daugherty’s idea, but instead a collaborative effort...
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