A proprietary trading firm and its management company (Plaintiffs) recently filed a complaint in New York State Court charging their former chief operating officer (COO) with misappropriating the Plaintiffs’ confidential and proprietary information and using such information to benefit his new employer, a hedge fund manager.  This article summarizes the factual and legal allegations as well as the remedies requested in the complaint.  For a discussion of protection of trade secrets by hedge fund managers, see “Measures Hedge Fund Managers Can Implement to Maximize Protection of Their Trade Secrets,” Hedge Fund Law Report, Vol. 5, No. 46 (Dec. 6, 2012); “Eight Measures That Hedge Fund Managers Can Take to Mitigate the Risk of Theft of Their Trade Secrets,” Hedge Fund Law Report, Vol. 5, No. 21 (May 24, 2012).  For a discussion of the interaction between trade secret protection and hiring, see “Why and How Should Hedge Fund Managers Conduct Background Checks on Prospective Employees? (Part Two of Three),” Hedge Fund Law Report, Vol. 6, No. 38 (Oct. 3, 2013).