Hedge Fund Says Founder's Wife Hacked Computer

Sep 1 2011 | 11:35am ET

Hedge fund Twin Capital Management has sued the wife of founder David Simon, accusing her of hacking into his company computer and stealing its proprietary data.

New York-based Twin is seeking $25 million from Linda Simon, who filed for divorce from her husband in June. Twin, which also wants its data back, claims that Linda Simon, at the urging of her attorneys, brought in a forensic technology company to break the hedge fund-owned computer's password in order to copy its contents.

According to the complaint, Linda Simon gave the company access to the computer on Aug. 3. Alphaserve Technologies, which monitored the computer for Twin, said it was turn on and off that day, a day that David Simon, who moved out of the Purchase, N.Y., house in July, did not have access to it.

"Highly confidential financial records, intellectual property, trade secrets and attorney-client communications were unlawfully stolen," Twin said in its lawsuit. "Continued possession and use of the highly confidential materials they stole from Twin Capital is likely to cause substantial damage to Twin Capital."

Linda Simon's lawyers, Advocate & Lichtenstein, have not responded to the lawsuit. According to Twin, she admitted that she hired a company to hack into the computer.

Twin also said that the Harrison, N.Y., police have initiated a criminal investigation into the hacking "and have contacted the Westchester County District Attorney's Office."


In Depth

AIMA: Smaller Firms Remain the Lifeblood of the Hedge Fund Industry

Jul 26 2017 | 5:55pm ET

It is a hedge fund industry truism that the largest managers receive the most attention...

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

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...

 

From the current issue of