Legal Opinion
Quantlab Financial, LLC v. Tower Research Capital, LLC
District Court, S.D. New York
Decided May 28, 2010No. 10 Civ 2491(DLC)PublishedCited by 11 opinions
1Opinion of the Court
OPINION & ORDER
DENISE COTE, District Judge:
This action arises out of an alleged non-compete agreement between plaintiff Quantlab Financial, LLC (“QLF”), an automated high-frequency trading firm, and its former employee, Dr. Yongzhong Xu (“Xu”). Defendant Tower Research Capital, LLC (“Tower”), a competitor of QLF, has offered employment to Xu. On March 19, 2010, QLF filed this action against Tower, alleging that Tower’s employment of Xu would violate the noncompete agreement. The same day, QLF brought an order to show cause to enjoin Xu’s employment at Tower. After a conference with both…
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