NY Court Flips Ex-Touradji Portfolio Managers' $91M Verdict

Law360 (January 14, 2020, 8:34 PM EST) -- A New York appellate panel upended a $91 million trial verdict on Tuesday won by former portfolio managers for Touradji Capital Management LP in a compensation dispute with the commodities hedge fund.

In a unanimous decision, the appellate judges ruled that the lower court imposed improper sanctions against Touradji that restricted it during trial from referencing alleged violations of certain U.S. Securities and Exchange Commission regulations by former managers Robert A. Vollero and Gentry T. Beach and alleged evidence tampering by Vollero.

That evidence was crucial to Touradji's counterclaims for breach of fiduciary duty against the former portfolio managers, which in...

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