Thursday, 29 January 2015
Last updated 9 hours ago
Oct 24 2007 | 7:44am ET
Piper Jaffray thinks hedge fund Vermilion Capital Management’s strategy is a little too familiar, and it’s not laughing. The Minneapolis-based investment bank has sued the founders of Vermilion—who just happen to be a quartet of Piper veterans—for stealing trade secrets.
Piper alleges that David Nicoski, Joseph Jasper, Shelley Moen and Scott McClure stole proprietary information about its technical research products, filing suit for misappropriation of trade secrets, breach of fiduciary duty, breach of contract and civil theft, HedgeFund.net reports.
Vermilion, founded two years ago and based in Edina, Minn., has denied the allegations and says that the foursome is cooperating with Piper.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…