Legal
Jane Street Strategy in Millennium Suit Involved India Trading, Hearing Reveals
- Judge didn’t bar ex-traders, Millennium from using strategy
- Trial in Jane Street suit is set for July in NY federal court
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The allegedly secret trading strategy over which Jane Street Group is suing two former traders and Millennium Management involves options trading in India, lawyers inadvertently revealed at a court hearing.
Jane Street, which sued Millennium as well as former employees Douglas Schadewald and Daniel Spottiswood last week, had sought to close the Friday hearing before US District Judge Paul Engelmayer in Manhattan. The judge denied that request but urged the parties to avoid mentioning any trade secrets.