Citadel abandons multi-year crypto lawsuit to focus on bankruptcy order against an ex-employee
After winning a 6 million-pound London arbitration award, Citadel dropped its U.S. trade secrets case, saying another judgment would likely go uncollected.
AI Summary
Citadel abandoned its U.S. trade secrets lawsuit against crypto market maker Portofino Technologies, saying any additional judgment would likely go uncollected. Instead, it is focusing on collecting a nearly 6 million-pound London arbitration award against Portofino co-founder Leo Lancia, and has petitioned the High Court in London to bankrupt him over the unpaid debt. The dismissal shows the dispute has shifted from proving liability to actually collecting money.