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Ken Griffin’s Citadel Securities Fights to Block Rival From Using Leaked Algorithm

  • Citadel says GSA saw algorithm data while recruiting trader
  • GSA says data obtained during recruitment wasn’t important
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Photographer: Chris Ratcliffe/Bloomberg
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Citadel Securities told a London court that officials at British hedge fund GSA Capital LLP can’t unsee information taken from a secret algorithm that is at the center of a lawsuit.

The U.S. firm, founded by Ken Griffin, is seeking around $40 million over claims that GSA obtained a secret trading strategy from a senior trader at Citadel Securities while using texts and WhatsApp messages to hide all traces of the plan. In addition to the damages, Citadel Securities wants to block GSA from using the trading model.