Svmuu News: Citadel Securities has filed a lawsuit in London seeking more than 6 million pounds—approximately 7.9 million U.S. dollars—from Leonard Lancia, its former head of European derivatives systematic market-making and co-founder of the high-frequency crypto trading firm Portofino Technologies.
Citadel Securities alleges that Leonard Lancia and his colleagues began planning the startup while still employed by the firm and, after winning a related labor arbitration case, were awarded damages and legal costs. Additionally, Citadel Securities filed a lawsuit against Portofino Technologies in the United States in 2023, alleging the theft of trade secrets. Leonard Lancia and Portofino Technologies have denied all allegations. The High Court of London rejected Leonard Lancia’s request to lift the asset freeze order last Friday. (Bloomberg)