Nikko Asset Management Co. Ltd. and Lazard Asset Management LLC must continue to fight trade secrets theft allegations stemming from their creation of a new fund around another company’s index.
The U.S. District Court for the Northern District of Illinois Dec. 28 rejected Nikko and Lazard’s request for summary judgment on IPOX Schuster LLC’s trade secrets claim. IPOX, a financial data services company, is suing Nikko and Lazard for using its data to create their investment fund covering companies that recently had initial public offerings. IPOX has its own IPO index based on its data and research.
The decision allows ...
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