Legal Law

No time to specify (that our CEO was accused of sexual battery)

Last month, some investors in the Anchorage Capital Group were somewhat upset with CEO Kevin Ulrich. They wondered if the hedge fund had been down for so long, holding more than $ 1 billion in MGM Holdings because it allowed Ulrich to serve as chairman of MGM while enjoying the perks of running a Hollywood Studios are connected. They wondered if that was why it was taking so long to sell this thing or find a CEO. They wondered if it was wise to have so much on a single film release – the next James Bond film, “No Time to Die” – when it was unclear amid a global pandemic that has closed so many screens when and if would in fact ever be released.

Well, it turns out that anything Ulrich does at MGM can be the least of his transgressions.

Ulrich committed a “sexual battery” involving “violent physical contact and restraint” in room 610 of the luxury hotel in Soho last July, Perry claimed in her June 2, 2020 complaint. She disapproved of Ulrich’s alleged actions and shared him this according to the submission. Perry “has been physically and emotionally harmed, withheld and treated in an undignified and abusive manner, regardless of her well-being and a deliberate disregard for her independence,” the complaint read. She allegedly suffered from “physical pain and mental and emotional distress”.

Ulrich has since settled Perry’s Odey-ous allegations, proving he’s quite adept at keeping more than just his MGM plans away from his investors.

Anchorage had chosen not to share knowledgeable sources with its investors and industry advisors unless those stakeholders addressed it first. When customers “mentioned that this was public information and would come out at some point, they shrugged their shoulders”, according to an institutional allocator who described this action as minor. “It is a solid company with good quality staff overall. You deserve better. “

Anchorage has been less transparent than some investors have expected their money managers to be, but with no sign of it, the company has breached a contractual obligation to share Ulrich’s situation. Investment contracts with companies of this size typically include disclosure when a key employee is charged with criminal charges – a far higher bar than just filed civil claims.

That will calm you down. One wonders whether Ulrich will walk the red carpet when “No Time to Die” finally opens in April. Perhaps.

Anchorage Capital has not disclosed the CEO’s sexual battery to investors, sources say [II]Kevin Ulrich, CEO of Anchorage Capital, is charged with “sexual battery” at the luxury hotel [II]

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