U.S. District Judge Paul Engelmayer of the Southern District of New York on Friday rejected the trading firm Jane Street’s request for a temporary restraining order against the trading firm Millennium Management and two Millennium employees, who previously worked at Jane Street and were accused of stealing the firm’s intellectual property.
“Jane Street’s claims are undeniably serious. They absolutely have the potential to be established,” Engelmayer said, but he ruled that Jane Street had not persuaded him that it would face irreparable harm without a TRO.