NEWS & VIEWS

Global private equity and venture capital news and research

Jury returns verdict in Highland Capital, Daugherty case

10 Feb 2014

US-based alternative credit manager Highland Capital Management has been awarded $2.8m in fees in its breach of contract lawsuit against former head of special situations and private equity Patrick Daugherty.

In April 2012 Highland filed a lawsuit against Daugherty branding the ex-chief a “megalomaniacal” manager who engaged in “abusive tirades” that “dehumanised employees.”

However, Daugherty was also awarded a similar amount after jurors determined he was owed that money from an executive-compensation programme. According to Bloomberg, the jury also found that Highland co-founder James Dondero defamed Daugherty by providing inaccurate information regarding his departure.

According to Bloomberg, Daugherty was originally seeking $160m in damages following his dismissal due to lost earnings and unpaid incentives.

The firm was recently awarded a $250m mandate from Texas Municipal Retirement System.

Copyright © 2013 AltAssets

FUNDRAISING & INVESTOR RELATIONS

Join the Private Equity & VC Fundraising & IR Group on LinkedIn. For LPs and GPs with an interest in private equity and venture capital fundraising, investor relations and marketing.

Legals & Terms of UsePrivacy Policy


AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2014