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Citadel Can Sue to Enforce Non-Compete Contracts

By Andrew M. Harris Citadel Investment Group LLC defeated a bid by former executives to dismiss a claim that contracts they signed while working for the $12 billion hedge- fund management firm barred them from building their own business after they left. Cook County Circuit Court Judge Mary Rochford today denied a defense request to throw out the allegation made in a lawsuit filed against them by the Chicago-based firm, which also accused the men of stealing its trade secrets. "They don't have a claim for breach of the non-compete," Gair of Chicago's Jenner & Block LLP told Rochford during a Sept. 2 court appearance. "The non-compete does not bar the activities they say it bars." To continue reading this interesting article from Bloomberg, click here.

Full post as published by The Trade Secrets Vault on September 05, 2009 (boomark / email).