Citadel Securities’ lawsuit against Portofino Technologies AG can proceed, but not against a seed investor. The judge ruled that he lacked jurisdiction over the investor. Claims of interference with employment contracts were also thrown out.

Citadel Securities’ lawsuit accusing Portofino Technologies AG of trade-secrets thefts can largely move forward against the high-frequency crypto-trading startup but not a seed investor in the firm.US District Judge Gregory Woods in Manhattan ruled Thursday that he lacked jurisdiction over the investor, Jean Canzoneri. The judge on Wednesday mostly denied Portofino’s motion to dismiss the case but also threw out claims that the firm interfered with the employment contracts of three Citadel Securities workers it tried to recruit.

Citadel Securities’ Trade Secrets Suit Proceeds Against Portofino