Citadel Joins The Program Trading Industrial Espionage Fray, Sues Malyshev And Teza
The gloves are now completely off in the escalating program trading fiasco that was started by Goldman’s former Sergey Aleynikov. Oddly, while Zero Hedge was fully expecting the Teza injunction to come from Goldman, it seems Griffin was more than happy to burden himself with that task. Hopefully Citadel is not faced with a case of reverse discovery and forced to document the 40% returns that it generated compliments of Malyshev when all its other groups on average lost around 50% in 2008. From Bloomberg : Citadel Investment Group LLC, the $12 billion hedge fund firm founded by Ken Griffin , sued three former executives and the firm they founded, Teza Technologies LLC, claiming violation of non-competition agreements. “This is a case of industrial espionage,” Citadel said today in a 25-page complaint.
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Citadel Joins The Program Trading Industrial Espionage Fray, Sues Malyshev And Teza