Ray Dalio, founder of Westport’s Bridgewater Associates, the world’s largest hedge fund and Westport’s largest private employer, today sharply criticized a New York Times story portraying his company, as described by one employee, as a “cauldron of fear and intimidation.”

Ray Dalio: NYT story “sensationalistic”. LinkedIn photo

In a statement issued by his company, Dalio, who turns 67 on Monday, denounced the Wednesday front page story—which included details of an alleged sexual harassment complaint, skinny-dipping during a work retreat, and video surveillance—as an example of “media distortion of reality.” (See WestportNow July 26, 2016)

“To understand the background of this story, you should know that the New York Times reporters never made a serious attempt to understand how we operate. Instead they intentionally strung together a series of misleading ‘facts’ in ways they felt would create the most sensationalistic story,” Dalio said in the statement.

The Times reported on Dalio’s response to its story on its website today.

Westport’s Bridgewater Associates is like a “cauldron of fear and intimidation,” according to an employee of the world’s largest hedge fund quoted by The New York Times.

In a front page story in Wednesday’s edition available online tonight, the newspaper said it had obtained through Freedom of Information requests a 34-year-old employee’s complaint made to the Connecticut Commission on Human Rights and Opportunities, which it said has not been previously reported.

The complaint describes “an atmosphere of constant surveillance by video and recordings of all meetings — and the presence of patrolling security guards — that silence employees who do not fit the Bridgewater mold,” the Times said.

The employee contends that his male supervisor sexually harassed him for about a year by propositioning him for sex and talking about sex during work trips, according to the report.

The annual three-day Westport Downtown Merchants Association summer sidewalk sale ended today with many merchants marking down merchandise in the final hours. This was the scene outside =Vineyard Vines, 90 Main St. (CLICK TO ENLARGE) Helen Klisser During for WestportNow.com

Sidewalks in Westport’s downtown area were crowded with shoppers today for the second day of the Westport Downtown Merchants Association annual sidewalk sale. It winds up Sunday from noon to 5 p.m. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Shoppers pick through bargains today at Westport’s Shoe-Inn on Main Street during the annual summer sidewalk sale. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com