Nebula Gets Green Light on Trade Secrets Suit Against Centiva

NRD GP LLC and Nebula Research & Development LLC may proceed with their claim against Centiva Capital LP under the Defend Trade Secrets Act, a New York federal court ruled.

Investment manager firm Nebula sufficiently alleged a nexus between the trade secrets and interstate commerce, Judge Margaret M. Garnett said Tuesday for the US District Court for the Southern District of New York.

• According to Nebula, fired high-ranking employee and minority share holder Colin McCarthy stole its trade secrets, including software, algorithms, and data sets as part of concerted effort by Centiva to recreate its trading strategies
• Centiva argued Nebula’s ...