Ex-Griffin Pal Drops Lawsuit

Jan 22 2007 | 10:05am ET

Saying sorry isn’t enough: You have to drop the lawsuit to show you really mean it.

Citadel Investment Group founder Kenneth Griffin’s former buddy, Rush Simonson, has done both, dropping a lawsuit that accused Griffin of stealing their shared business plan, and apologizing, to boot, Citadel said. Simonson filed the suit in Chicago last year, claiming Griffin made off with the hedge fund business plan the pair devised in the 1980s.

“I have fond memories of my days in college when I would run back to my dorm room to execute trades on behalf of the partnerships we had formed,” a reminiscent Griffin said in a statement. “The filing of the lawsuit left me feeling betrayed by my former business partner.”

Simonson, who withdrew the lawsuit on Jan. 17, was not compensated for the move, Citadel said.

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