In the past month, some Anchorage Capital group of investors were getting this A little upset With CEO Kevin Ulrich. They wondered if the hedge fund had sunk and held more than $ 1 billion in MGM Holdings for so long because it allowed Ulrich to act as MGM chairman and thus enjoy the perks that come with managing a Hollywood studio. They wondered if this was the reason it took so long to sell the thing, or find a CEO. They wondered if it was wise to get so much attention with a single movie release – the next James Bond movie, No Time to Die – when it was unclear, amid a global pandemic that led to many screens being shut down, when and if it would actually be released .
Well, it turns out that whatever Ulrich does at MGM may be the least he does Excesses.
Ulrich committed the “sexual strike” involving “strong physical contact and restraint” in room 610 of the luxury Soho Hotel last July, Perry alleged in her complaint on June 2, 2020. She did not agree with Ulrich’s alleged actions, and informed him of it, according to the deposit … . The complaint states that Perry “was physically and emotionally abused, restrained, and treated in an insulting and abusive manner without regard for her well-being and a conscious disregard for her independence.” She was alleged to have suffered from “physical pain and mental and emotional distress” as a result.
Anchorage decided not to inform its investors and industry advisors, according to informed sources, unless it was raised by stakeholders first …. When “clients mentioned this was public information and would eventually come out, they mocked it,” according to an institutional allocation official, who described the procedure as a modest business. “It is a strong company and has a good staff overall. They deserve better. “
Anchorage was less transparent than some investors would like their asset managers to be, but without any indication, the company has breached any contractual obligation to share Ulrich’s position. Investment contracts with companies of this size typically provide for disclosure when a key employee is charged with criminal charges – a much higher threshold for civil lawsuits that are simply filed.
This will reassure them. It makes one wonder if Ulrich will walk the red carpet when No Time To Die finally opens in April. Can.