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According to a statement released by Rubicon, “The claim includes allegations that Alarco and Attias conspired and acted in breach of their covenants and fiduciary duties to Rubicon whilst still in its employ.”

eFinancialNews which reported the launch in early July said that Alarco was on garden leave from the firm, which typically means they are being paid and have agreed not to work, and are limited in their ability to join a competitor for a specific amount of time. The report said that Attias, Cripps and GAM declined to comment.

Aside from trying to prove that Rubicon should be awarded “Declaratory Relief, Injuncion and Damages and Account of profits and costs, the firm is also obviously feeling stung by the recent announcement of Attias’ launch (the Rubicon statement also seeks to correct media reports about the management of the funds that were included in announcements about Attias’ new firm).

In some of the launch stories Rubicon’s performance was reportedly “It returned 44% in 2008, 15% in 2009 and 14% last year, according to a person familiar with the situation.” In other stories “Under Attias’ watch, the Rubicon Global hedge fund delivered returns of 44% in 2008, 15% in 2009 and 14% in 2010, on assets of $1.65 billion.”

In today’s statement Rubicon says: “According to the Hedge Fund Intelligence Global Review, Rubicon Global Fund was the top performing Global Macro Fund for the three years from January 2008 to December 2010 with a total return over the three years of 91.23%.

The bulk of this return was obtained in 2008, which was a very difficult year for all investors. In 2008 Rubicon provided investors a return of 44.80%. Paul Brewer, CIO, provided two thirds of the 2008 return. Rubicon has provided investors a compound annual rate of return in excess of 13%.

The spokesman added, “Paul Brewer, the man who built Rubicon, is now very much back in the driving seat and is determined to protect the interests of investors and Rubicon’s reputation.”

Kirsten Bischoff