Citadel Sues Former Employees Over New Crypto Venture, Accuses Them of Stealing Secrets

Alex Casimo and Leonard Lancia left Citadel Securities to start crypto firm Portofino Technologies, leading to legal action by Citadel.

Citadel claims the two violated employment agreements and stole trade secrets, which Portofino denies.

A hearing on the London case is set for May 2023, but Citadel also sued Portofino in New York.

Portofino filed a motion to dismiss the New York case, saying Citadel chose to first take action in London.

Portofino claims Citadel's actions are meant to intimidate employees from leaving and are "corporate bullying."