Hedge Fund Ordered To File Docs In Citadel Trader Dispute

Law360, London (February 13, 2020, 5:20 PM GMT) -- A London-based hedge fund being sued by Citadel Securities has been warned it may face court sanctions if it doesn't respond to claims it stole a secret trading algorithm.

In a consent order, Judge John Cavanagh signed off on a one-month deadline for GSA Capital Partners LLP and five of its senior executives to submit their defense in a lawsuit filled with claims that the company accessed confidential information on a proprietary algorithm that cost Citadel Securities (Europe) Ltd. $100 million to develop.

The order, which was signed off on Feb. 7, said if GSA Capital fails to comply, it “may be...

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