January 15, 2020 / 9:36 PM / 5 days ago

NY appeals court upends Touradji portfolio managers' $91 mln verdict

A New York state appeals court has overturned a $91 million jury verdict for two former portfolio managers at Touradji Capital Management LP and ordered a new trial in their long-running compensation dispute, saying the commodities hedge fund was deprived of a fair trial.

A unanimous panel of New York’s Appellate Division, First Department in Manhattan said the trial judge was wrong to block Touradji Capital from telling jurors that the U.S. Securities and Exchange Commission (SEC) had found that the plaintiffs violated securities law, and presenting evidence that one of them destroyed handwritten notes.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2RqR5sm

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