Hedge Funds Performance

Fired Saracen trader demands $30m

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A lawsuit filed by Thomas Houston, a former trader at Saracen Energy Advisors, alleges that he was unfairly fired by the hedge fund shop following massive losses, for which they blamed him. He says Saracen has since avoided paying him millions in deferred compensation for profits he earned in previous years.

According to his May 14 complaint, Houston was hired by Saracen in June 2005 as an energy trader and director of options trading. He was fired by Saracen on February 18, a month during which the firm reportedly lost 22%. "Defendants fired Houston in an attempt to