BGC accuses Tullett of data theft

BGC accuses Tullett of data theft

BGC Capital Markets has accused bitter rival Tullett Prebon of stealing its proprietary pricing data in a lawsuit that seeks "hundreds of millions of dollars" in restitution.

The suit has been filed in the New York Supreme Court over data supplied to Tullett Prebon as part of a now defunct treasury swaps joint venture product.

BGC claims that Tullett brokers accessed the data without permission and is suing for unjust enrichment, unfair competition and computer fraud.

BGC claims that the data theft continued undetected for over five years.

Tullett Prebon has yet to comment on the allegations.

Comments: (1)

A Finextra member
A Finextra member 10 November, 2010, 17:59Be the first to give this comment the thumbs up 0 likes

How is it possible to be undetected for five years. There is more to this story i am sure

Trending