TORONTO, ONTARIO -- (Marketwire) -- 01/31/13 -- Daniel Schlaepfer, President of True North Vantage Inc., today announced the commencement of legal proceedings in the Ontario Superior Court of Justice against JitneyTrade Inc. and Oscar Ribeiro.
In addition to seeking an injunction restraining the defendants from using its confidential information, True North Vantage seeks $52,700,000 in damages for conversion and conspiracy to damage its economic and contractual interests, and a further $500,000 in punitive and exemplary damages.
True North Vantage recently acquired the Canadian-based trading business of a former client of JitneyTrade. JitneyTrade, an IIROC member firm registered with the OSC and AMF, and Mr. Ribeiro are alleged to have conspired together to misappropriate True North Vantage's confidential information.
True North Vantage and its parent company, Select Vantage Inc., are funds specializing in intra-day trading strategies.
True North Vantage Inc.
Most Popular Stories
- Illegal Immigration Near Historic Low, Despite What You May Have Heard
- Small-Business Loans Fueling Economic Growth
- Gasoline Costs Drive Consumer Price Increases
- Saudi Arabia Will Open Stock Market to Foreigners
- Tesco Head Steps Down After Profit Warning
- Russians Fed Steady Diet of Conspiracy Theories
- Want a Job? Try Minneapolis
- Durbin Drubs Walgreen for Possible Tax Dodge
- Comic-Con Offers Toy Designers a Chance to Go Wild
- Google Chrome Bug Draining Batteries: Report