A hedge fund that closed after securities regulators accused the firm of insider trading is seeking more than $100m from the estate of one of its former portfolio managers.

Visium Asset Management filed the complaint earlier this month in New York Supreme Court under a new name, VA Management. The firm said it is seeking more than $100m it paid to money manager Sanjay Valvani from 2007 through 2016, and “the investigative and legal fees and all other losses resulting from Valvani’s breach of fiduciary duty”.