New York-based hedge fund Elliot Associates filed suit today against Cedar Hill Capital Partners, claiming Cedar schemed to “literally steal [proprietary] software in order to use it for its own trading activities,” an act Elliot deems “nothing short…of corporate espionage.” The software in question is used to analyze fixed-income securities for trading CDOs, and according to the firm, took upwards of two years and millions of dollars to develop. Shed some light time: Elliot manages around $10 billion so it wouldn’t be so far fetched to think Cedar Hill might want some of that. Then again, the firm is run by Paul Singer, who a quasi-reliable source tells DealBreaker is “John Nash-paranoid.” (Who isn’t?)
(It’s times like these that I can’t help but thinking since it’s sort of a fact that at least half of you snakes are going to pull these stunts anyway, why not level the playing field from the start and just say, “Anything goes,” like Ultimate Fighting and whatnot? Then we could spend less time having these petty little arguments and more time trying to guess how many phone books Adam Sender has to sit on to clear the dashboard-- standard Price Is Right rules apply.)
Elliott Sues Cedar Hill For Spying, Stealing [FINalternatives]
Posted by step on all the bids , Feb 26, 2008 3:37PM
wtf is with abk spiking a buck and a half everytime 'no sleeves' comes on the air and spouting his gamba-goul.
Posted by guest , Feb 26, 2008 4:04PM
Manhattan phone books? 2.5
Posted by guest , Feb 26, 2008 4:16PM
I thought is was anything goes? If I "steal" from you in the world of finance and you let me, that's your fault, isn't it?
Posted by guest , Feb 26, 2008 9:29PM
what isn't stolen in this biz? money, ideas, clients, wifes...get over it...survival of the fittest man. Darwin.
Posted by guest , Feb 27, 2008 11:08AM
@9:29, hey, remember that the next time you go crying to mommy for more money you trust fund brat.
Posted by guest , Feb 27, 2008 12:48PM
stop whining... maybe if you'd tried a little harder in school you'd be making the big bucks on Wall Street. So just sit back in your Lazy-boy crack open another brew... and fork over all your money!
Posted by guest , Feb 27, 2008 12:48PM
stop whining... maybe if you'd tried a little harder in school you'd be making the big bucks on Wall Street. So just sit back in your Lazy-boy crack open another brew... and fork over all your money!
Posted by guest , Feb 27, 2008 12:52PM
Typical hedgie attitude. When Hillary's elected, she'll line you up and take you down! Unless you contribute substantially to her campaign.