United States v. Agrawal
American legal case / From Wikipedia, the free encyclopedia
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United States v. Agrawal, 726 F.3d 235 (2nd Cir. 2013),[1] was a case heard in the United States Court of Appeals for the Second Circuit involving theft of trade secrets and intellectual property. The court upheld the conviction of Samarth Agrawal, former quantitative analyst at Paris-based bank Société Générale S.A ("SocGen"), for stealing high-frequency trading code from SocGen and replicating proprietary software for New York-based hedge fund Tower Research Capital ("Tower").
United States v. Agrawal | |
---|---|
Court | United States Court of Appeals for the Second Circuit |
Full case name | United States of America v. Samarth Agrawal |
Argued | June 21st, 2012 |
Decided | August 1st, 2013 |
Court membership | |
Judge(s) sitting | Rosemary S. Pooler, Reena Raggi, and Gerard E. Lynch |
Keywords | |
Economic Espionage Act, Intellectual Property, Quantitative Trading, Trade Secret |
The decision of this case has been compared with United States v. Aleynikov, where Sergey Aleynikov was convicted and later acquitted for stealing proprietary code from Goldman Sachs in a similar fashion just over a year earlier. Despite similarities between Aleynikov and Agrawal, The Second Circuit drew opposite conclusions for the two cases. The district court's decision in Agrawal was upheld based on details regarding the medium in which the code was stolen, as well as the way the district courts initially presented the cases to the jury.