Bond Market Veteran Bassman Sues ETF Manager Over Compensation

Harley Bassman, who invented a widely-followed gauge of Treasury-market volatility and later developed exchange-traded funds for Simplify Asset Management, is suing the firm for allegedly stiffing him of millions of dollars in compensation.

Bassman claims Simplify failed to honor revenue-sharing arrangements linked to several ETFs he helped create in recent years, according to a lawsuit filed April 7 in a federal court in California. Simplify disputed the claims and said it plans to challenge them in court.