Ex-BlackRock Fund Manager Lipsky Settles Contract Lawsuit

Ex-BlackRock Inc. (BLK) fund manager Michael Lipsky settled a lawsuit in which he accused his former employer of wrongfully withholding information on investment results of funds he managed.

Lipsky, who resigned from New York-based BlackRock in December 2010, sued the company in state Supreme Court in Manhattan in July, accusing it of refusing to provide him with accurate information about the investment results for funds he managed during his employment.

The two sides agreed to dismiss the lawsuit, according to a document filed yesterday, and dispute has been settled, Lipsky’s lawyer, Joseph A. Piesco, said today in a phone interview. He declined to disclose terms, saying the accord is confidential.

Brian Beades, a spokesman for BlackRock, declined to comment on the settlement in an e-mail.

The case is Lipsky v. BlackRock Inc., 652329/2012, New York State Supreme Court (Manhattan).

To contact the reporter on this story: Chris Dolmetsch in New York at cdolmetsch@bloomberg.net.

To contact the editor responsible for this story: Michael Hytha at mhytha@bloomberg.net.

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