-- David Einhorn’s Greenlight Capital Inc. escalated a legal battle with a former employee who claims he was head of macro trading at the firm, alleging James Fishback was actually a poor performer who resigned ahead of being fired.In a fresh lawsuit filed Tuesday in Manhattan federal court, the hedge fund said Fishback’s claims of being responsible for $100 million in profits and “insane” performance at Greenlight were false.
Fishback said in his suit, which was dropped in January to allow the parties to proceed in arbitration, that he’s a self-taught investor who successfully ran his own hedge fund for five years before joining Greenlight. He said he started consulted with Einhorn on macro investing in early April 2019 and was offered employment with the firm as a research analyst in February 2021.
According to the firm, Fishback told Greenlight he was resigning to focus on his work with a non-profit organization but would “love to continue working with” the firm. Greenlight says he’s now pushing a story about departing due to political agreements “when it became convenient for him to do so in an effort to attract more publicity by disparaging Mr. Einhorn to build his own following and to attract interest in Azoria.
According to Greenlight, Fishback used this rejection “as a pretext to capture a wide audience and launch into a days-long social media and podcast tirade against Greenlight and Mr. Einhorn.” Foundry founder and CEO Jared Quincy Davis joins Asking For A Trend to give insight into the future of AI infrastructure and Foundry's role in it. Davis argues that GPU is one of the most important commodities in AI and that the AI sector is currently experiencing a GPU underutilization issue. Demand for Foundry's services and the extent of AI growth are "really tremendous" and underestimated, Davis adds.