Reported 25 days ago
A US judge has allowed Citadel Securities' lawsuit against Portofino Technologies to proceed over allegations of trade-secrets theft, while dismissing claims against one of Portofino's investors. The lawsuit accuses former Citadel employees of using stolen trade secrets to launch the crypto startup in Switzerland. The judge ruled there was sufficient US jurisdiction due to Portofino's recruitment practices impacting Citadel, despite claims of jurisdiction being fundamentally European. Citadel has expressed satisfaction with the ruling, while Portofino disputes the allegations, calling them a reaction to its success.
Source: YAHOO