Schottenfeld Sues Opus Over Trader Hires

Law360, New York (May 17, 2011, 2:05 PM EDT) -- Schottenfeld Group LLC filed a New York state court lawsuit Friday against Opus Trading Fund LLC, alleging Opus is using its employment contracts to improperly prevent its former traders from joining Schottenfeld, limiting competition in the market for skilled employees.

In the complaint, Schottenfeld claims that Opus' actions have impeded the free movements to traders within the market of so-called proprietary trading firms, or firms that trade with the company's money, as opposed to client funds, with anti-competitive conduct that has cost Schottenfeld millions of dollars...
To view the full article, register now.