Fund Manager Gagliardi Faces Block-Trading Probe, Ex-Employer Says
- Ex-employer sued Gagliardi over pay dispute, citing US probe
- Gagliardi’s attorney says he denies all allegations in suit
The US Securities and Exchange Commission building in Washington, DC.
Photographer: Zach Gibson/BloombergThis article is for subscribers only.
A lawsuit filed by the hedge fund Evolution Capital Management says that federal authorities are probing the activities of Robert Gagliardi, a former fund manager at the firm, as part of a criminal investigation into block trading.
Evolution, which said in its filing that US Marshals seized Gagliardi’s mobile phone last year in connection with the probe, added that it received a subpoena from the Securities and Exchange Commission earlier this year that was “clearly focused in large part upon Gagliardi,” the complaint said. The fund, which also goes by ECM, is suing Gagliardi in New York state court over a pay dispute.