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Intellectual Property Law

: The Trade Secrets Vault

Former employee accused of stealing secrets from Goldman Sachs Group

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By Mike Hughlett Tribune reporter Chicago-based Teza Technologies has suspended a new employee accused by federal prosecutors of stealing trade secrets from his former employer, Goldman Sachs Group. Sergey Aleynikov was arrested Friday in New Jersey by the Federal Bureau of Investigation for allegedly stealing software code he had designed for Goldman Sachs. The code involves "sophisticated mathematical formulas to place automated trades in the market," and such trades typically generate "many millions of dollars" annually, according to an FBI affidavit. To continue reading this interesting article from The Chicago Tribune, click here.

Full post as published by The Trade Secrets Vault on July 11, 2009 (boomark / email).

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