Churchill Drops Lawsuit Against Former Analysts

Jul 20 2010 | 12:10pm ET

Hedge fund firm Churchill Capital has settled with two former analysts it accused of stealing client data and poaching staff in violation of their noncompete agreements.

The Bermuda-based hedge fund and brokerage ended the lawsuit, filed in Singapore, where Jonathan Foster and Charles Nave worked, last week. Churchill said that the two downloaded several files, including client data, after they had resigned but before they left the firm at the end of last year. The firm also accused them being in contact with another ex-Churchill employee who had also joined Aviate Global, which was not named in the suit.

According to Churchill, Foster’s and Nave’s allegedly duplicity was revealed because Foster had left his Skype account open on his office computer.

Churchill founder Patrick Churchill told Bloomberg News that the matter has been amicably resolved. He did not disclose the terms of the settlement.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Saxby: Not All EBITDA Is Created Equal

Nov 30 2017 | 8:02pm ET

Record levels of dry powder are driving competition among private equity firms to...