The London Stock Exchange is being sued for unfair dismissal by Eli Lederman, the former chief executive of its Turquoise platform, according to Reuters.
The LSE acquired a majority stake in Turquoise early last year, installing former CIO David Lester as chief executive of the venture, with Lederman "stepping aside".
Lederman - who took on the role of CEO before Turquoise's launch in 2007, joining from Morgan Stanley - has since initiated a case that will open at an employment tribunal on Thursday.
According to a statement he has given to Reuters, the former chief is accusing LSE executives of "unacceptable and unreasonable" conduct.
He is hoping documents relating to his departure will shed light on the issue. "We will be contesting the basis on which the LSE have redacted materials and withheld entire categories of files," says the statement.
Lederman is also arguing that the restrictions he was placed under during a gardening leave period were unreasonable.
Former Turquoise CEO sues LSE for unfair dismissal - Reuters