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DE Shaw ordered to pay record $52mn to former star money manager

Financial Times LogoFinancial Times1 mo ago

DE Shaw ordered to pay record $52mn to former star money manager

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DE Shaw is one of the highest-grossing hedge funds ever and a pioneer of “quantitative” investing, which is based on computer algorithms.

The arbitration panel found four members of DE Shaw’s six-person executive committee liable for the defamation: Max Stone, Julius Gaudio, Eric Wepsic and Eddie Fishman.

The largest award ever involved an industry-client dispute in which a customer of Credit Suisse was handed $401.5mn in 2009.“It is possible to defeat power, arrogance, and lies with persistence, humility, and truth.


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Article Details

Author / Journalist: Brooke Masters

Category: MarketsFinanceInvesting

Topics: Firm Michalow Industry Shaw Four Financial Arbitration Found Misconduct 2018

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-30, 16:47:36

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Reading Time: 5 minutes read

Article Length: 724 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 23433

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About Financial Times

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Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 16 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 8h ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

News Language: English

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Publisher ID: #3

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