Sunday, 21 December 2014
Last updated 1 day ago
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."
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
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