The claimants were related to a hedge fund, and the two defendants were highly qualified computer experts who, over many years, helped construct and then operate the computer systems which substantially help to run successful hedge funds. After they were summarily dismissed just before Christmas in 2008, proceedings were commenced and essentially the claimants’ very substantial claim against these defendants was that the defendants had acted in breach of their respective contracts in failing to construct, maintain or operate the computer systems in an appropriate and careful way. In addition to that, it was said by the claimants that the defendants had misused a substantial amount of confidential information which they had and, it was said, had retained after the termination of their employment.
The defendants denied all those allegations but also counterclaimed for bonuses which were said to be due and not paid and/or alternatively for profit shares which were said to have been agreed. The claims on both sides ran to eight-figure sums.
Judges:
Akenhead J
Citations:
[2012] EWHC 4063 (QB)
Links:
Contract
Updated: 14 November 2022; Ref: scu.472252