Legal Suit Sheds Light on Secret Trading Technology. Ashbury Heights accuses former data partner of misusing intellectual property. Ashbury Heights Capital was founded by two Massachusetts Institute of Technology graduates.
A legal dispute in San Francisco is shedding light on the secret tools that some of the biggest quantitative hedge funds, including WorldQuant LLC and Two Sigma Investments LLC, use to predict stock prices.In the lawsuit, Ashbury Heights Capital LLC, a little-known investment company founded by two Massachusetts Institute of Technology graduates, has accused a former data partner of underreporting revenue and misusing intellectual property. This month, a judge ruled against a motion from the defendants to move the case to confidential arbitration and set a trial for September 2016.