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Wall Street Traders Charged With Copying Code To Start Their Own Company

Posted by Unknown on from the awesome-business-plans dept.

coondoggie writes "Talk about starting a business on shaky ground. The Manhattan District Attorney's office says former Wall Street traders stole electronic trading source code and data from their then trading firm in an effort to start up their own financial business." Sending yourself pilfered code through your company email account is probably not the wisest plan.

2 of 145 comments (clear)

  1. Re:It's about time... by Intrepid+imaginaut · · Score: 5, Insightful

    Information wants to be free, man. Seriously though this is par for the course in business. The only unusual thing is that they got caught and the courts are taking the claims seriously. Low hanging, fat, and easy, just the way the justice system likes 'em.

  2. Re:Wasn't that how Microsoft got started? by Anonymous Coward · · Score: 5, Insightful

    A small company clean-roomed an existing DOS, and Gates bought that--for $75k. Technically speaking it wasn't arbitrage because it wasn't immediately flipped to IBM and there was some assumed risk that nobody would buy it. OTOH, he definitely bought cheaply in one market and sold dearly in another--one of the greatest trades of all time.