Dallas-based alternative asset manager Highland Capital Management has filed a lawsuit against Patrick Daugherty, its former head of special situations and private equity, branding the ex-chief a “megalomaniacal” manager who engaged in “abusive tirades” that “dehumanized employees.”
Daugherty resigned of his own accord after Highland “refused to accede to his unacceptable ultimatums and megalomaniacal demands regarding compensation,” despite receiving pay in excess of $26m during his tenure at the firm, according to a 14-page complaint Highland filed in Dallas, Texas state court earlier this month.
The lawsuit claims that the former chief was “belligerent to peers,” leading Highland staff to complain and even leave the firm after Daugherty publicly rebuked them, calling them “‘f—ing idiots” amongst other offensive terms.
The firm has sued Daugherty for breach of contract and defamation and asked a Texas state judge for a permanent injunction prohibiting him from disclosing confidential information about the firm to its investors or the media.
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