Citadel Securities Sues Rival Over Trade Secrets Theft Claims

Law360, London (January 15, 2020, 3:36 PM GMT) -- Market-maker Citadel Securities is suing a London rival and five of its executives in the High Court over allegations they stole a secret trading strategy that cost the company more than $100 million to develop.

Citadel Securities (Europe) Ltd. says that GSA Capital Partners LLP gained access to confidential information while attempting to hire one of its senior traders, according to the particulars of a claim recently made available.

GSA Capital, a London-based hedge fund, obtained trade secrets during the recruitment process by communicating exclusively on WhatsApp messages and texts to hide all traces of the plan, the document states....

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