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Highland Capital Sues Investment Firm for Defamation
[Image: nikssinghal12345blogspot.com]
Highland Capital Management will not stand for being insulted. The Dallas-based investment manager sued Geoffrey Stern, president of Muirfield Capital Management, for making defamatory comments about the fund to the press, according to a complaint filed Monday in NYS Supreme Court.
“Just when you think you’ve seen it all, [Highland founder and President] Jim Dondero comes up with a new twist. They just took our money,” Stern, a former Highland investor, said in an October article in The WSJournal.
Stern was referring to nearly $30 million in allegedly illicit fees Highland reaped while winding down one of its funds in the wake of the financial crisis. Highland disagrees with the statement and believes Stern’s comments hurt the $15.4 billion firm’s reputation.
“There appears to be a good reason why the investor committee took the fund away from Highland.”
It was the 2nd time this month that Highland went to the courts to protect its reputation. Earlier this month, Highland went after Breaking Media, the company behind popular finance blog Dealbreaker.
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