05/10/2010 05:12 am ET Updated May 25, 2011

Pali Capital Collapses, Shareholders Say CEO Ran Firm Like 'His Own Private Fiefdom'

The boutique derivatives and fixed income firm Pali Capital, Elinor Comlay writes, was "an oasis of prosperity," before suddenly imploding with Bradley Reifler, the company's "charismatic" and flashy co-founder and chief executive at the helm:

"For all his enthusiasm and charm, Reifler had a combative side. Most conspicuously, he had a tendency to sue, launching at least a dozen lawsuits against people and companies over the last 10 years...

According to former employees and people who reviewed the company's financial statements, Reifler's penchant for litigation helped destroy the bank he spent so many years building."

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