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Intellectual Property Law

: The Trade Secrets Vault

Citigroup, Inc (NYSE: C) Accuses Former Employee of Leaking Trade Secrets

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Citigroup, Inc (NYSE: C) has filed suit against Gautam Hazarika, a former director in its global markets unit, alleging that he released confidential trade secrets to Deutsche Bank (NYSE: DB) before joining the bank, according to a new Business Week report. The suit accused Hazarika of a flagrant breach of contract with Citigroup by accusing him of sending trade secrets to Deutsche Bank and Standard Chartered Plc, as well as his personal emial account. The news of the suit comes on the heels of a 2009 suit from Bank of America Corp (NYSE: BAC)'s Merrill Lynch division for allegedly raiding its bankers and misappropriating trade secrets. To read the complete article from ABN Business News, please click here.

Full post as published by The Trade Secrets Vault on May 03, 2010 (boomark / email).

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