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Hedge manager files £1m lawsuit over homophobic bullying claim

Hedge manager files £1m lawsuit over homophobic bullying claim

Hedge fund manager Paul Newton has filed a £1 million lawsuit against his former employer Balyasny Europe over allegations of homophobic bullying and unfair dismissal.

Newton, who is gay, said that colleagues treated him as a ‘curiosity on exhibit’, openly speculated about his sex life, and referred to him as ‘camp’ and ‘effeminate’ according to the Evening Standard.

Employees ‘had the unmistakable assumption that he was extremely promiscuous’ and questioned his right to drive an Aston Martin, he said.

Newton was fired this summer over what the company said was his poor performance and post-Brexit losses. Newton claims this was the culmination of two years of mistreatment, however.

He has since suffered from depression and anxiety, according to documents filed with the employment tribunal.

The working environment at the firm was ‘intimidating, hostile, degrading, humiliating and offensive,’ he said, in legal documents obtained by the newspaper.

In a statement issued to the Telegraph Balyasnay denied the allegations, saying it would ‘resist the claim vigorously’. The company was ‘committed, by policy and ethical commitment, to a work-force free from harassment’ it added.

The case is expected to be heard in March next year.

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