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QUANTLAB FINANCIAL v. TOWER RESEARCH CAPITAL

No. 10 Civ 2491(DLC).

715 F.Supp.2d 542 (2010)

QUANTLAB FINANCIAL, LLC, QUANTLAB TECHNOLOGIES LTD. (BVI), Plaintiffs, v. TOWER RESEARCH CAPITAL, LLC, Defendant.

United States District Court, S.D. New York.

May 28, 2010.

Attorney(s) appearing for the Case

Andrew P. Marks, David S. Warner, Littler Mendelson, P.C., New York, NY, for Plaintiffs.

Peter L. Altieri, David J. Clark, Epstein, Becker & Green, P.C., New York, NY, for Defendant.

OPINION & ORDER

DENISE COTE, District Judge:

This action arises out of an alleged noncompete agreement between plaintiff Quantlab Financial, LLC ("QLF"), an automated high-frequency trading firm, and its former employee, Dr. Yongzhong Xu ("Xu"). Defendant Tower Research Capital, LLC ("Tower"), a competitor of QLF, has offered employment to Xu. On March 19, 2010, QLF filed this action against Tower, alleging that Tower's employment of Xu would...

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