Legal
Jane Street Ordered to Give Ex-Traders ‘Roadmap’ of Secrets
- Firm sued two men, Millennium in April for trade secrets theft
- Judge says ex-traders need access to filing to prepare defense
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A federal judge ordered Jane Street Group to share with two former traders a detailed court filing on a secret trading strategy it claims they stole, rejecting the firm’s argument that it would give them a “roadmap for further misappropriation.”
Douglas Schadewald and Daniel Spottiswood must have access to the disclosure, US District Judge Paul Engelmayer ruled on Wednesday. He said they needed the information to properly defend themselves against the suit Jane Street filed against them and their new employer, Millennium Management, in April.