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By: Jonathan Stempel
Reuters
Liquidnet Inc, a U.S. venue where institutions anonymously trade public stocks, was sued by Wedbush Securities Inc for allegedly stealing trade secrets to start a rival business trading shares of private companies.
Thursday's lawsuit came three days after Liquidnet hired Lou Kerner, formerly a Wedbush vice president of equity research covering social media and e-commerce, to spearhead the new business.
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