IKOS Founder Drops Spying Lawsuit

Dec 10 2012 | 5:36am ET

IKOS Asset Management chief Elena Ambrosiadou has settled one of the many legal cases stemming from her divorce from co-founder Martin Coward.

Ambrosiadou agreed to drop her lawsuit against Dilitas, a security company she claimed sought to harass the firm and its employees on behalf of Coward, and to pay half of its legal costs. A spokesman for the hedge fund manager said she took the move, after a judge rejected her bid to delay the trial, to "prevent the ordeal of having highly private matters from being exposed in open court."

Dilitas said it was hired only to serve Ambrosiadou with court papers and undertook no surveillance of her or IKOS. A lawyer for Dilitas founder Christopher Cully told the Financial Times that his client is "disappointed not have a chance to clear his name at trial," but is satisfied with "a pragmatic outcome… which vindicates his position and demonstrates the fundamental weakness of the claims made against him."

Ambrosiadou painted a somewhat different picture. Her spokesman said that the Dilitas case "established that Martin Coward… used private investigators to watch his former wife and to investigate the private life of their child's nanny."

Ambrosiadou brought the case against Cully and Dilitas after her own "large scale" spying operation against Coward and other IKOS staff was revealed. Ambrosiadou did not contest those allegations.

Ambrosiadou and Coward have filed more than 40 lawsuits against each other in at least four counties over the past three years.


In Depth

Will Liquid Alts’ Performance Sustain Future Asset Flows?

Aug 25 2014 | 10:34am ET

Liquid alternative investment funds saw the highest percentage of capital inflows...

Lifestyle

Hedgies, Economists and Musicians Mingle At Milkin Mixers In Hamptons

Aug 25 2014 | 6:00am ET

Leave it to Michael Milken to bring some gravitas and sweat to the Hamptons -- along...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.