Displeased with his depiction in "The Big Short," Michael Lewis's best-selling book about the mortgage crisis, a New Jersey asset manager is suing the author, the publisher and one of the main figures in the book.
Wing Chau, founder of Harding Asset Management, contends that Mr. Lewis made "false and defamatory statements" about him and his role in the crash by painting him as a "villain" in the narrative, according to the complaint filed in United States District Court in Manhattan.
The lawsuit also names Steven Eisman, a colorful hedge fund manager featured prominently in the book who bet against the subprime mortgage market, and the book's publisher, W.W. Norton and Company.
Mr. Lewis's nonfiction book spent weeks atop The New York Times best-seller list for both its hardcover and paperback editions, and its "popularity has made the harm to the plaintiffs all the more severe," the suit says.
Mr. Chau and his firm make their appearance in a dinner scene in Las Vegas, where Mr. Eisman is in attendance.
The book describes a conversation the two men are said to have had about a segment of the subprime mortgage market that Mr. Chau was involved with and Mr. Eisman was betting against.
"In the same breathless tone that permeates the rest of the book, this chapter makes a series of accusations of grave professional misconduct, incompetence, and irresponsibility," the suit states.
rest at http://dealbook.nytimes.com/2011/02/28/asset-manager-sues-over-the-big-short/
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