Reuters- Hedge fund Elliott Management Corp sued Cedar Hill Capital Partners LLC on Tuesday, alleging its rival engaged in corporate espionage by misappropriating its proprietary software used for trading.
Elliott alleged that Cedar schemed with one of its employees and a consultant to "literally steal the software in order to use it for its own trading activities," according to a complaint filed in U.S. District Court in Manhattan.
"Cedar Hill’s illicit conduct is nothing short of an overt act of corporate espionage," it alleged.
