Touradji Capital Sued by Amaranth
|September 28th, 2009||
|Amaranth Advisors, the now defunct hedge fund that collapsed in 2006 after losing more than $6 billion on natural gas futures, is suing Touradji Capital and its founder Paul Touradji, claiming breach of contract and misuse of trading strategies, according to New York Times’ Deal Book.|
The suit centers on the base-metals portfolio Touradji purchased from Amaranth as Amaranth was winding down in 2006. Amaranth alleges that Touradji committed fraud by misappropriating trade secrets in order to unjustly profit.
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