Highland Ex-Exec Says He Didn't Steal Firm's Strategies
By Jess Krochtengel (January 22, 2014, 9:28 PM EST) -- Highland Capital Management LP's former private equity division head admitted in Texas court Wednesday that he kept some company records after he left the firm, but denied claims he used them to poach Highland employees or to benefit himself as he launches his own investment business.
Highland, which manages about $18 billion, claims that after leaving the firm in 2011, Patrick Daugherty refused to give back some 59,000 essential documents that, if leaked into the marketplace, would allow other investors to duplicate Highland fund structures and dismantle its competitive advantage. In his second day on the witness stand, Daugherty denied using...
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