Michael Lipsky, former BlackRock fund manager, filed suit against his former employer claiming it wrongfully withheld information he was promised under his employment contract.
Mr. Lipsky, who resigned in December 2010 as portfolio manager and head of distressed investing in BlackRock’s leveraged finance investment team, accused BlackRock of refusing to provide him “full, complete and accurate information” about the investment results for funds he managed during his employment.
The suit was filed Tuesday in New York State Supreme Court in Manhattan.
“In fact, instead of acting in good faith, BlackRock ’dumped’ on Lipsky irrelevant and indecipherable data it knew was worthless and could not possibly be used to validate to investors Lipsky’s strong history of success with respect to the funds he managed,” according to the complaint.
Brian Beades, a spokesman for BlackRock, didn’t immediately reply to a message left seeking comment on the lawsuit.
Douglas Appell contributed to this story.