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

Q&A: Jeff Eaton Talks Capital Raising, CalPERS And The Secondaries Market

Oct 14 2014 | 10:16am ET

Global placement agent Eaton Partners has raised close to $60 billion for some of...

Lifestyle

MacDonald-Korth Offers Insights Into Paintings Bought, Sold By Hedgies

Oct 7 2014 | 9:00am ET

Definitive and complete ratings require an in-person examination of an artwork,...

Guest Contributor

PAAMCO: European Equity Exposure - Challenging Year, But All is Not Lost

Oct 16 2014 | 4:12am ET

European equity hedge fund managers have had a tough time so far this year. The...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

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.