You’ve probably already read that Dallas-based hedge fund giant Highland Capital Management has had to wind down two of its funds because of market volatility in recent weeks. Now it appears that the hedge fund group and NexBank Securities, which is owned by many of the same people who own Highland Capital, face a March trial for a lawsuit alleging breach of contract and fraud and conspiracy, among other things. The November issue of D CEO includes a story spelling out some of the overlap between NexBank and Highland Capital, which on June 30 was valued at $38 billion. While the estimated $2.3 million sought by former employees from Highland Capital/NexBank Securities pales in comparison to Highland Capital’s assets, in times like these, every penny counts.
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