Conseco Unit Sues Investment Officer Who Resigned, WSJ Says
Carmel, Indiana, Oct. 16 (Bloomberg) -- Conseco Inc.'s Conseco Capital Management Inc. sued one of its top stock pickers Friday after he and three subordinates resigned, the Wall Street Journal said.
Senior vice president and chief equity investment officer Thomas Pence, 39, quit to join closely held Strong Capital Management Inc., the paper said. A few hours after Conseco announced his resignation, the company filed a breach-of-contract suit contending he violated a letter of agreement concerning the operation of a hedge fund, the paper said.
Three of Pence's 12 subordinates also resigned, the paper said. Conseco Capital Chief Executive Maxwell Bublitz described those resignations as ``terse'' and said he believes they were motivated by Pence's departure.
Pence declined to comment on the suit, the paper said.
(WSJ 10/16 B20)
Oct/16/2000 11:05 ET
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