Hedge Fund Research and Advisory Firm Aksia LLC Sues Two Former Employees for Misappropriation and Destruction of Confidential Business Information
Hedge Fund Law Report
Aksia LLC is a hedge fund advisory business that provides strategy and portfolio-level research and advisory services to institutional investors that invest in hedge funds. Defendants Sarah Cole and Corissa Mastropieri worked for Aksia’s “Americas advisory services team” servicing institutional clients and developing new business. Aksia’s complaint alleges that, in connection with the defendants’ move to work for an Aksia competitor in London, the defendants solicited each other to leave Aksia, stole confidential business information and other company property, tampered with company records and interfered with Aksia’s relations with its clients. The complaint illustrates how Aksia used forensic investigations of the defendants’ computers to document the defendants’ alleged preparation for their move to an Aksia competitor. In addition to money damages, Aksia seeks, among other things, to enjoin the defendants from using the confidential information they allegedly took and from working for that competitor. This article summarizes Aksia’s allegations and the relief it is seeking.