Fired Manager Can Challenge Highland Capital in Arbitration

(Bloomberg) A former portfolio manager can force Highland Capital Management LP into arbitration over his claim that he was fired after questioning what he described as the firm’s illegal self-dealing with outside investors.

Highland alleges Joshua Terry was the one who engaged in self-dealing and trying to profit at clients’ expense. The dispute escalated with the Dallas-based firm’s claim that Terry secretly recorded his colleagues and investors in violation of his employment contract. Terry’s legal filings are peppered with quotes allegedly taken from the recordings, which include Highland President James Dondero calling his investors “jackasses.”

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