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

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...