Hedge fund innovator files lawsuit against former spouse's company over trading software ownership
In the financial world, the name Martin Coward is synonymous with algorithmic trading software. Known for pioneering this technology, Coward has been at the centre of several legal disputes following his departure from Ikos Asset Management, a company he founded, after his divorce from Elena Ambrosiadou in 2009.
However, a recent search for public records and credible sources regarding a lawsuit between Coward and Phaestos, Ambrosiadou's current company, over stolen algorithmic trading software has yielded no relevant results. The search results instead focus on unrelated topics such as typeface design lawsuits and font creators, with no mention of trading software or either party involved.
Despite this, it's important to note that without additional specific public information or credible dispute filings, it appears there is no publicly documented legal case between Martin Coward and Phaestos related to stolen algorithmic trading software.
Coward and Ambrosiadou's divorce in 2009 was a highly publicised event, with Coward leaking divorce papers to the press. The split has attracted widespread media attention and has resulted in numerous lawsuits in courts around the globe.
Last year, Coward countersued Ikos Asset Management alleging that they used his intellectual property, but subsequently withdrew the suit. In 2011, Ikos Asset Management alleged that Coward stole its intellectual property when he set up a new hedge fund in Switzerland. However, the lawsuit between Coward and Ikos Asset Management regarding intellectual property is not currently ongoing.
Interestingly, Ambrosiadou herself is not a defendant in the trial against Phaestos. The trial regarding the lawsuit is being heard in the UK high court this week.
It's worth mentioning that Coward is the founder of Ikos Asset Management and one of the disputes between him and his ex-wife's company involves algorithmic trading software developed by Coward for Ikos Asset Management.
Elena Ambrosiadou, a former BP executive turned hedge fund manager, has made headlines with her response to a request for comment from the news agency Bloomberg, stating that "electronic theft laws need to be introduced in the UK and Europe".
For those requiring the most up-to-date or detailed information, consulting legal databases or news from financial and legal industry sources directly may be necessary.
Martin Coward's business involvements extend beyond finance, as he is also associated with technology, particularly algorithmic trading software. In the courtroom battles following his divorce from Elena Ambrosiadou, Coward's technology has been at the center of several intellectual property disputes, such as the one involving Ikos Asset Management.
