Ex-Fund Manager Faces Penalty in Suit Against Brevet Capital

A former Brevet Capital Management managing director who accused the firm of installing secret software on a home computer to read his emails and steal data was penalized by a judge for destroying two cell phones sought as evidence in the case.

The ruling by a New York judge came in a long-running lawsuit between Brevet and Paul Iacovacci. As part of a suit seeking what he said was unpaid compensation, Iacovacci said the firm secretly installed software on a computer it bought for him that enabled Brevet to steal data from his personal email account and hard drives. Brevet ...