Jane Street Avoids Disclosing Secrets to Millennium in Dispute

Jane Street Group was spared for now from having to share trade secrets with former traders it sued after they left for a rival firm.

US District Judge Paul Engelmayer on Thursday said Jane Street does not need to share a court-ordered disclosure with former traders Douglas Schadewald and Daniel Spottiswood and Millennium Management. Instead, the firm can temporarily make it available only to the court and outside lawyers.

Jane Street sued Schadewald, Spottiswood and Millennium last month, claiming the two traders took an “immensely valuable” confidential trading strategy to their new jobs at Izzy Englander’s hedge fund ...