{"id":49221,"date":"2017-04-28T15:30:27","date_gmt":"2017-04-28T22:30:27","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=49221"},"modified":"2017-04-28T14:45:01","modified_gmt":"2017-04-28T21:45:01","slug":"cosmopolitan-nightclub-lawsuit-awards-hedge-fund-manager-millions","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/cosmopolitan-nightclub-lawsuit-awards-hedge-fund-manager-millions\/","title":{"rendered":"Cosmopolitan Nightclub Lawsuit Awards Former Hedge Fund Manager $160.5 Million"},"content":{"rendered":"

A 2012 Cosmopolitan nightclub attack has resulted in a $160.5 million verdict for a patron who was brutally assaulted by resort security after he allegedly head-butted the Marquee Las Vegas general manager.<\/p>\n

\"Cosmopolitan
Las Vegas nightclubs are a key attraction for resorts to get millennials in the door, but Marquee, the Cosmopolitan nightclub, is paying out millions as\u00a0the result of a vicious\u00a0beating. (Image: AXS.com)<\/figcaption><\/figure>\n

Nongaming amenities and attractions<\/a> are a huge draw in Las Vegas these days, and resorts are continually trying to enhance their mass-market allure. Getting the next generation, the millennial, inside Strip doors is seen as a paramount issue, but a\u00a0verdict reached by a jury this week might ward off some would-be Cosmopolitan partygoers.<\/p>\n

The case involves former financial advisor David Moradi, who until 2012 ran a New York-based hedge fund that oversaw roughly $1 billion. The investor reportedly made $11 million alone in 2011.<\/p>\n

\n

According to his lawsuit, Moradi was trying to leave the Marquee nightclub at the Cosmopolitan of Las Vegas after paying a more than $10,000 tab.<\/p>\n

That’s when a manager and security demanded he turn over identification and his credit card due to an issue with his signature. The millionaire refused, and the two sides become combative.<\/p>\n

The Cosmopolitan says Moradi head-butted its nightclub’s general manager before security apprehended him and escorted the New Yorker to a security room. That’s where, according to the prosecution, he was attacked.<\/p>\n<\/div>\n

\n

“The Marquee<\/a> security members and manager shoved David to the ground, causing his head to forcefully hit the concrete,” Moradi’s prosecution claimed, as reported by the Las Vegas Review-Journal<\/i>. “The Marquee security members and manager repeatedly hit and smashed David\u2019s head into the concrete and continually held his head and right eye against the concrete with a high degree of pressure.”<\/strong><\/p>\n<\/blockquote>\n

Jury Doesn’t Buy Defense<\/b><\/h2>\n

The Cosmopolitan nightclub case boiled down to whether Moradi actually suffered brain injuries. A Las Vegas neurosurgeon said he did, and diagnosed Moradio with\u00a0a traumatic brain injury. His lawyers\u00a0argued that’s what led to his hedge fund’s collapse.<\/p>\n

Cosmopolitan’s defense claimed the hedge fund was failing before the incident, and that the victim didn’t suffer a brain injury, nor any permanent damage.<\/p>\n

The jury sided with Moradi, and the court’s $160.5 million award was based on damages and the loss of future wages.<\/p>\n

Hedged Bets on Cosmopolitan<\/b><\/h2>\n

Moradi’s $160.5 million payday isn’t the first time the Cosmopolitan has been taken by a hedge fund member.<\/p>\n

First envisioned in 2004 by Soros Fund Management, the holdings company of billionaire George Soros, and David Friedman, a former Las Vegas Sands executive, the planned $3.9 billion under-construction project went into financial ruin when the 2008 recession hit.<\/p>\n

Deutsche Bank eventually took control of the resort, and\u00a0finally opened the casino\u00a02010. The Cosmopolitan was the only casino to open in Las Vegas that year.<\/p>\n

\n

Four years later in 2014, the Blackstone Group bought the property at the discounted price of\u00a0$1.73 billion. That same year, Blackstone, a private equity asset management company and hedge fund, helped finance Amaya’s $4.9 billion buyout of the parent companies to PokerStars and Full Tilt Poker.<\/strong><\/p>\n<\/blockquote>\n

Blackstone’s founder and CEO Stephen Schwarzman is a longtime Republican, who is also an informal advisor to another man who’s owned casinos, President Donald Trump.<\/p>\n","protected":false},"excerpt":{"rendered":"

A 2012 Cosmopolitan nightclub attack has resulted in a $160.5 million verdict for a patron who was brutally assaulted by resort security after he allegedly head-butted the Marquee Las Vegas general manager. Nongaming amenities and attractions are a huge draw in Las Vegas these days, and resorts are continually trying to enhance their mass-market allure. […]<\/p>\n","protected":false},"author":42,"featured_media":49224,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,60,18],"tags":[],"acf":[],"yoast_head":"\nCosmopolitan Nightclub Lawsuit Awards Former Hedge Fund Manager $160.5 Million<\/title>\n<meta name=\"description\" content=\"A Cosmopolitan nightclub attack by security on a patron in 2012 has resulted in a $160.5 million verdict for the victim, a former hedge funder manager.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cosmopolitan Nightclub Lawsuit Awards Former Hedge Fund Manager $160.5 Million\" \/>\n<meta property=\"og:description\" content=\"A Cosmopolitan nightclub attack by security on a patron in 2012 has resulted in a $160.5 million verdict for the victim, a former hedge funder manager.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/cosmopolitan-nightclub-lawsuit-awards-hedge-fund-manager-millions\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-04-28T22:30:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-04-28T21:45:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/04\/73128807-optimized_53d6bf690f3f8.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/cosmopolitan-nightclub-lawsuit-awards-hedge-fund-manager-millions\/\",\"url\":\"https:\/\/www.casino.org\/news\/cosmopolitan-nightclub-lawsuit-awards-hedge-fund-manager-millions\/\",\"name\":\"Cosmopolitan Nightclub Lawsuit Awards Former Hedge Fund Manager $160.5 Million\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/cosmopolitan-nightclub-lawsuit-awards-hedge-fund-manager-millions\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/cosmopolitan-nightclub-lawsuit-awards-hedge-fund-manager-millions\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/04\/73128807-optimized_53d6bf690f3f8.jpg\",\"datePublished\":\"2017-04-28T22:30:27+00:00\",\"dateModified\":\"2017-04-28T21:45:01+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"A Cosmopolitan nightclub attack by security on a patron in 2012 has resulted in a $160.5 million verdict for the victim, a former hedge funder manager.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/cosmopolitan-nightclub-lawsuit-awards-hedge-fund-manager-millions\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/cosmopolitan-nightclub-lawsuit-awards-hedge-fund-manager-millions\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/cosmopolitan-nightclub-lawsuit-awards-hedge-fund-manager-millions\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/04\/73128807-optimized_53d6bf690f3f8.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/04\/73128807-optimized_53d6bf690f3f8.jpg\",\"width\":900,\"height\":600,\"caption\":\"Las Vegas nightclubs are a key attraction for resorts to get millennials in the door, but Marquee, the Cosmopolitan nightclub, is paying out millions at the result of its security officials beating a patron. 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