Faulting a trial judge’s mishandling of a discovery dispute, a state appeals court on Tuesday wiped out a $46 million award against Manhattan hedge fund Touradji Capital Management, and ordered a new trial in a decade-old legal battle involving two former portfolio managers who said they were stiffed on millions of dollars in performance bonuses.

A four-judge panel of the New York Supreme Court, Appellate Division, First Department unanimously held that a lower court judge went too far in sanctioning Touradji Capital for allegedly failing to turn over U.S. Securities and Exchange Commission documents in response to the plaintiffs’ pretrial demands.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]