Friday, 29 August 2014
Last updated 10 hours ago
Feb 26 2008 | 12:43pm ET
Elliott Associates has accused another hedge fund of spying and stealing proprietary trading technology.
The $10 billion New York-based hedge fund, run by Paul Singer, filed suit today against Cedar Hill Capital Partners alleging it of scheming to “literally steal the software in order to use it for its own trading activities,” branding the activity “nothing short of an overt act of corporate espionage.”
According to the complaint, filed in federal court in Manhattan, Cedar Hill conspired with an Elliott employee and consultant in the “illicit conduct” beginning in October.
Elliott is seeking damages for misappropriation of trade secrets, unfair competition and other claims, and has asked the court to stop Cedar Hill from “further wrongfully exploiting its confidential and proprietary information.”
The allegedly stolen software is used by Elliott to analyze fixed-income securities for trading collateralized debt obligations. According to the firm, it took more than two years and millions of dollars to develop.
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…
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 ...