(Updates with complaint sealed in second paragraph.)
Oct. 26 (Bloomberg) -- Marty Teevan, head of trading at Global Hunter Securities LLC, sued his former employer, Cantor Fitzgerald LP, in a contract dispute.
Teevan, who left Cantor in September 2010, filed a sealed complaint in Delaware Chancery Court in Wilmington yesterday. He accused the New York-based brokerage firm of a breach of contract, according to documents submitted with the complaint.
Lawyers for Teevan asked the court to seal the complaint because it includes Cantor’s partnership agreement, which includes a confidentiality obligation, according to court records.
Teevan, who was hired by Ticonderoga Securities LLC in March, joined Global Hunter in September with three other Ticonderoga bankers. Ticonderoga had shut down its fixed-income business in August, six months after starting the unit, as trading volumes shrank.
Cantor doesn’t comment on litigation, spokesman Robert Hubbell said in a telephone interview.
The case is Teevan v. Cantor Fitzgerald LP, CA6976, Delaware Chancery Court (Wilmington.)
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