Citadel Securities Sues Former Europe Derivatives Head Leonard Lancia in London for Over £6 Million

Citadel Securities has filed a lawsuit in London seeking more than £6 million from Leonard Lancia, its former head of European derivatives systematic market-making and a co-founder of high-frequency crypto trading firm Portofino Technologies. According to Odaily, Citadel Securities alleges that Lancia and colleagues began planning a startup while still employed at the firm, and that Citadel previously won damages and support for legal costs in related employment arbitration. Citadel Securities also sued Portofino Technologies in the United States in 2023, alleging theft of trade secrets. Lancia and Portofino Technologies have denied all allegations. The London High Court rejected Lancia’s request last Friday to lift an asset-freezing order.