Hennessee Sues Former Compliance Chief For Theft

Mar 26 2008 | 1:14pm ET

The Hennessee Group Monday filed suit against its former chief compliance officer, accusing her of stealing trade secrets and a contact list when she was forced out of the firm.

According to the New York-based fund of hedge funds firm, perhaps best known for its hedge fund indices, leanna Piscopo admitted during pretrial discovery for her own suit against Hennessee that she downloaded the information and shared it with her new employer, Manchester Square Investment Group, which is itself starting a hedge fund.

The stolen data allegedly included Hennesee’s “commission model,” which details how its clients pay it, “trade secrets, confidential material and proprietary information that was the lifeblood” of the firm, the lawsuit charges.

Hennessee has also filed suit against Manchester Square and Piscopo’s husband, Alex Smith-Ryland, a former marketing director at Hennessee.

Piscopo sued Hennessee two years ago, alleging that managing principal E. Lee Hennessee asked that either she or Smith-Ryland leave the firm after Piscopo become pregnant with Smith-Ryland’s child.

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