Citadel Slaps Ex-Workers With Trade Secrets Suit

Law360, New York (July 9, 2009, 12:00 AM EDT) -- Hedge fund Citadel Investment Group LLC has sued three former employees for allegedly violating noncompete agreements and misappropriating trade secrets when they left to set up their own firm, Teza Technologies LLC.

Chicago-based Citadel filed the lawsuit Thursday in the Circuit Court of Cook County, Ill., Chancery Division, seeking “hundreds of millions of dollars in damages” in arbitration from the defendants.

In addition to Teza, the suit names as defendants former Citadel employees Mikhail Malyshev, Jace Kohlmeier and Matthew Hinerfeld.

Malyshev and Kohlmeier were senior members...
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