Investors in the Waddell & Reed fund are suing Waddell & Reed

[bigdunny1]

The man at the center of this on going lawsuit Ryan Caldwell according to Rick Glaser has flipped working with the FEDS. lol

Ryan Caldwell, who worked at Waddell & Reed, and put together the 500 million dollar financing package for Al Haymon and his PBC, and then went to work as Haymon's chief guy, and now Caldwell is missing. No one of note knows Caldwell's whereabouts. Rumors abound that the Feds maybe hiding him, as he could be a very dangerous witness, as Caldwell knows everything that went on with Haymon and the PBC, is highly educated, and had a clean track record before his involvement with Haymon. Very intersting development in the never ending saga of Haymon and his PBC, and the blown 500 million. I know "but it was freeeeeee boxing" Well, you see how that worked!

[Eff Pandas]

He's probably flipping on Waddell Reed not Haymon or PBC. Haymon's 500M ain't sh^t on the amount of money Waddell lost when they went south.

[lizard_man]

Haymon probably had him "taken cared of"

[Eff Pandas]

Haymon probably had him "taken cared of"

Ryan Caldwell could probably take care of Haymon. Guy runs a billion dollar venture capital firm that he grew over 18 months from outta nowhere. And he was killing it before & til he left + Waddell Reed went south & lost money & had a sh^tton of layoffs & resignations resulting from more than a 500M loss by PBC.

Waddell Reed lost 75% of their value over the last 3.5yrs. And there were a company valued at 6B in 2014. Those cats were likely doing sketchy sh^t beyond the 500M PBC lose vs the other 4B they lost.

[bigdunny1]

He's probably flipping on Waddell Reed not Haymon or PBC. Haymon's 500M ain't sh^t on the amount of money Waddell lost when they went south.

I don't think it has to be one or the other it could be both. This Caldwell dude is shady and something went down under his watch. Too much money went missing and the lawsuits already linking him to Haymon because the 500M never made sense as an investment into boxing. and then compounded after he gave the money to Haymon he went to work for him at PBC. That's a huge conflict of interest and signs of collusion.

Straight from this dudes bio for Chironim

https://www.chironim.com/team/ryan-caldwell/

Ryan Caldwell is a Partner and Chief Investment Officer of Chiron Investment Management, LLC. From 2000 through the end of his tenure as co-portfolio manager in 2014, he helped lead portfolio management decision-making at Waddell & Reed for a suite of funds totaling $40 billion, including Ivy Asset Strategy, W&R Asset Strategy, and Ivy Funds/VIP. He was named to the Institutional Investors list of ‘Rising Stars of Mutual Funds’ in 2009, and in 2007 was a finalist for Morningstar Manager of the Year. He serves as board adviser to Haymon Boxing/Premier Boxing Champions and has previously served as a Director to Delta Topco Group, as well as a board adviser to Legendary Entertainment.

[BWC]

I don't think it has to be one or the other it could be both. This Caldwell dude is shady and something went down under his watch. Too much money went missing and the lawsuits already linking him to Haymon because the 500M never made sense as an investment into boxing. and then compounded after he gave the money to Haymon he went to work for him at PBC. That's a huge conflict of interest and signs of collusion.

Straight from this dudes bio for Chironim

https://www.chironim.com/team/ryan-caldwell/

Ryan Caldwell is a Partner and Chief Investment Officer of Chiron Investment Management, LLC. From 2000 through the end of his tenure as co-portfolio manager in 2014, he helped lead portfolio management decision-making at Waddell & Reed for a suite of funds totaling $40 billion, including Ivy Asset Strategy, W&R Asset Strategy, and Ivy Funds/VIP. He was named to the Institutional Investors list of ‘Rising Stars of Mutual Funds’ in 2009, and in 2007 was a finalist for Morningstar Manager of the Year. He serves as board adviser to Haymon Boxing/Premier Boxing Champions and has previously served as a Director to Delta Topco Group, as well as a board adviser to Legendary Entertainment.

People are talking out their arses here. $500mm really isn't THAT much. The UFC was just bought for $4.6 BILLION a year ago. Most of it in debt.

There is NOTHING wrong with joining the board of one of your portfolio companies for a private equity firm. In fact it is more or less standard practice. Corporate board members are given stock in the company usually as a matter of course. Why wouldn't he want a say in a company he had a major investment in?

[bigdunny1]

People are talking out their arses here. $500mm really isn't THAT much. The UFC was just bought for $4.6 BILLION a year ago. Most of it in debt.

There is NOTHING wrong with joining the board of one of your portfolio companies for a private equity firm. In fact it is more or less standard practice. Corporate board members are given stock in the company usually as a matter of course. Why wouldn't he want a say in a company he had a major investment in?

what are you talking about no that is standard practice. That's literally one of the main parts of their lawsuit.


The plaintiffs say Caldwell's actions were inappropriate because as a fund manager he should have been making objective investment decisions.

In June 2014, the plaintiffs say, Caldwell resigned from the funds to join one of Haymon's companies. They question whether he actually resigned, or was fired by the trustees for making the investments, and whether he had a quid pro quo agreement with Haymon's company.

"In either case, the trustees have not acted properly," the complaint states.
Haymon's activities have been the subject of several lawsuits recently, according to the complaint. The Courthouse News database shows Haymon as a defendant in four lawsuits since 2013, all involving pro boxing, and another lawsuit in 2005, also involving boxing.

An independent association of State Boxing Commissioners asked the Justice Department to investigate Haymon's business practices, the plaintiffs say.
They say the defendants kept them in the dark.

"The Funds made no meaningful disclosure about their investment in this company, or how this investment was different from, or carried risks that were different from, the disclosed strategies in the Prospectuses," the complaint states. "The Funds also did not disclose Caldwell's personal relationship with Haymon or how that relationship influenced the decision to invest in Haymon's company — or how such a relationship might present a conflict of interest."

The plaintiffs say that whether the defendants knew that Caldwell was investing nearly a billion dollars "into a high-risk start-up that was designed to violate antitrust laws" or not, they should have known the investment was well outside the bounds of the funds' investment strategy.

[Eff Pandas]

I don't think it has to be one or the other it could be both. This Caldwell dude is shady and something went down under his watch. Too much money went missing and the lawsuits already linking him to Haymon because the 500M never made sense as an investment into boxing. and then compounded after he gave the money to Haymon he went to work for him at PBC. That's a huge conflict of interest and signs of collusion.

Straight from this dudes bio for Chironim

https://www.chironim.com/team/ryan-caldwell/

Ryan Caldwell is a Partner and Chief Investment Officer of Chiron Investment Management, LLC. From 2000 through the end of his tenure as co-portfolio manager in 2014, he helped lead portfolio management decision-making at Waddell & Reed for a suite of funds totaling $40 billion, including Ivy Asset Strategy, W&R Asset Strategy, and Ivy Funds/VIP. He was named to the Institutional Investors list of ‘Rising Stars of Mutual Funds’ in 2009, and in 2007 was a finalist for Morningstar Manager of the Year. He serves as board adviser to Haymon Boxing/Premier Boxing Champions and has previously served as a Director to Delta Topco Group, as well as a board adviser to Legendary Entertainment.

Whats shady about him? The guy is one of the best investors on the planet. This guy appears to know when something is of value wayyyy more often then not. And yea these types of dudes often end up as consultants or on boards of companies because of his knowledge. That's not as sketchy as you are thinking it is. Its rather common actually.

All these PayPal guys that made a sh^t ton of money back in the day are now angel investors or VC guys themselves & are on all sorts of boards now. This guy is a VC Warren Buffett/Charlie Munger type mfer, not a scam artist & Haymon is the most f#cks given guy in boxing maybe. You guys rooting on him being involved in something dirty are gonna be disappointed I'd be willing to bet.

[BWC]

what are you talking about no that is standard practice. That's literally one of the main parts of their lawsuit.


The plaintiffs say Caldwell's actions were inappropriate because as a fund manager he should have been making objective investment decisions.

In June 2014, the plaintiffs say, Caldwell resigned from the funds to join one of Haymon's companies. They question whether he actually resigned, or was fired by the trustees for making the investments, and whether he had a quid pro quo agreement with Haymon's company.

"In either case, the trustees have not acted properly," the complaint states.
Haymon's activities have been the subject of several lawsuits recently, according to the complaint. The Courthouse News database shows Haymon as a defendant in four lawsuits since 2013, all involving pro boxing, and another lawsuit in 2005, also involving boxing.

An independent association of State Boxing Commissioners asked the Justice Department to investigate Haymon's business practices, the plaintiffs say.
They say the defendants kept them in the dark.

"The Funds made no meaningful disclosure about their investment in this company, or how this investment was different from, or carried risks that were different from, the disclosed strategies in the Prospectuses," the complaint states. "The Funds also did not disclose Caldwell's personal relationship with Haymon or how that relationship influenced the decision to invest in Haymon's company — or how such a relationship might present a conflict of interest."

The plaintiffs say that whether the defendants knew that Caldwell was investing nearly a billion dollars "into a high-risk start-up that was designed to violate antitrust laws" or not, they should have known the investment was well outside the bounds of the funds' investment strategy.

Their lawsuit is garbage unless they can prove there's a quid pro quo agreement in place. Most judges will simply look at them as willing investors into an enterprise that they ended up unhappy with. Investors try this all the time, generally with little result.

I notice these plaintiffs didn't whine about the F-1 deal, another high-risk sports venture "designed to violate anti-trust laws". OF COURSE PBC wants to control the boxing market just like the NFL wants to control the football market and the NBA wants to control the basketball market. It would actually benefit the investors were they allowed to do so.

Courts generally frown on investors trying to use them to bail them out..

[BWC]

Whats shady about him? The guy is one of the best investors on the planet. This guy appears to know when something is of value wayyyy more often then not. And yea these types of dudes often end up as consultants or on boards of companies because of his knowledge. That's not as sketchy as you are thinking it is. Its rather common actually.

All these PayPal guys that made a sh^t ton of money back in the day are now angel investors or VC guys themselves & are on all sorts of boards now. This guy is a VC Warren Buffett/Charlie Munger type mfer, not a scam artist & Haymon is the most f#cks given guy in boxing maybe. You guys rooting on him being involved in something dirty are gonna be disappointed I'd be willing to bet.

These guys are a bunch of commies, thinking a guy can't even look after his own investment.