Co-Founder of Hedge Fund Manager Camulos Partners Sues Other Co-Founder for $67 Million in “Unlawfully Seized” Bonuses and Investments

On December 30, 2009, William Seibold, an investor in hedge fund Camulos Partners LP, and an equity interest holder in hedge fund manager Camulos Capital LP and fund general partner Camulos Partners GP LLC, sued the Camulos entities and their controlling individuals for over $67 million in the Delaware Chancery Court.  His complaint alleges that the defendants, through a “calculated scheme and brazen abuse of power,” forced him out of the management partnership and “deprived him of millions of dollars of his investments, compensation and equity.”  His sixteen-count complaint includes claims for statutory theft, conversion, unjust enrichment, breach of contract, tortious interference with contract, breach of fiduciary duty and civil conspiracy.  This article summarizes the primary factual and legal allegations in the complaint.

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