NonCompete and equivalents..
My acquaintance, a quant trader, had a non compete of 5 months at a quant hedge fund. He left the firm, and after the non compete ended, his exEmployer sued him to try to get an injunction, with barely any facts. Given the pending injunction, which takes a lot of time for even straight forward decision, it effectively turned into a judicial non compete, not many firms interested in even interviewing him in view of the pending litigation. Obviously he is not getting paid anything, on top of having to fight this injunction. His exEmployer's only wish seems to be to get a longer non compete, one way or the other.
(i) He is confused, if firms can get away with stuff like this, why isn't every firm suing their senior employees to get a longer non compete, one way or the other.
Some thing is amiss...
Any opinions or suggestions?
Anyone can sue anyone else. It's common for employers to require very long noncompetes for quant strategies. Shadier funds might try to stall you long enough to harvest 100% of the alpha, which may have a half life of
Your friend should get advice from a lawyer and not online forums. And yes, he will have to pay that lawyer.
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