Legal Question in Business Law in Texas

Deferred Compensation/lockup/hedge fund

I just quit my job of 1.5 years. I was given a bonus that was put into the hedge fund i was working at. I was told it had 12 month lockup (7/1/06). Today I gave them a letter stating that i wanted to be fully cashed out at the end of the lockup. They are now telling me that the money was given as retainer and if i left before lockup, then i lost it. Only problem is that I paid taxes on it (W2 earned income)already and they have no paperwork to substantiate any of their claims. Who do I go to on this? Labor dept., IRS, NFA, SEC???


Asked on 4/18/07, 6:35 pm

2 Answers from Attorneys
James Grissom Law Office of James P. Grissom

Re: Deferred Compensation/lockup/hedge fund

I say go to Harris County Court at Law suing for the tort of conversion - keeping your money with no right to do so. If you want my assistanc on this case, contact me by email.

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Answered on 4/18/07, 6:48 pm
Johm Smith tom's

Re: Deferred Compensation/lockup/hedge fund

You can slam dunk as Mr. Grissom proposes or you can serve and volley by having your attorney notice them that they will be sued and lose and pay treble damages or they can pay you right now and then sue if they don't pay up within a week. It will strengthen your position with the judge that you gave them a chance to not waste the court's time, especially if you give sufficient proof in the notice to demonstrate that they don't have a prayer in court. I don't think the fact that they made you pay taxes on the money can be explained away.

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Answered on 4/18/07, 7:01 pm


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