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Rating:New Janus Lawsuit May Offer Clues to Recent Departures Not Rated 3.0 Email Routing List Email & Route  Print Print
Thursday, August 23, 2007

New Janus Lawsuit May Offer Clues to Recent Departures

by: Erin Kello

A new lawsuit by a former Janus employee is shedding light on the reasons behind a recent string of departures at the company. The Rocky Mountain News reports that Ed Keely, who left the company in May, is suing Janus for a sum of $4 million for breach of contract. The complaint, filed July 31 in Denver District Court, claims that CEO Gary Black sharply reduced compensation for many of the firm's portfolio managers in October, which violated their contracts. Since early last year, 11 fund managers have left Janus. Black also hinted to the paper there could be more departures coming "down the road."  

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