Ex-DRW Trader Accused of Stealing Proprietary Quant Code
- Avi Mahajan was sued by DRW’s lead quantitative researcher
- David Sweet seeks order blocking Mahajan from disclosing code
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A former DRW Holdings LLC trader and research analyst was accused in a lawsuit of stealing proprietary computer code used in the firm’s quantitative strategies.
Avi Mahajan was sued in federal court in New York on Tuesday by an entity controlled by DRW’s lead quantitative researcher, David Sweet. According to the suit, Sweet was hired by DRW after he pitched the firm on his Cogneato software, and his employment agreement allowed him to retain ownership of it.