Ubs Ag And: Sarkar

ED ON 312512009
SUMMONS 0’
UBS AG and U B S SECURITIES LLC,
Index No.
Plaintiffs, Date purchased: March 24,2009
- against -
Plaintiffs designate New York
JATIN SURYAWANSHI, PARTHA SARKAR, County as the place of trial.
and SANJAY GIRDHAR,
The basis of venue is, inter alia,
Defendants. plaintiffs’ place of business in New
York County.
TO THE ABOVE-NAMED DEFENDANTS:
YOU ARE HEREBY SUMMONED to answer the complaint in this action and
to serve a copy of your answer, or, if the complaint is not served with the summons, to serve a
notice of appearance, on plaintiffs’ attorneys within twenty (20) days after service of this
summons, exclusive of the day of service, if this summons is personally delivered to you within
the State of New York, or within thirty (30) days after service is complete, if this summons is nt
personally delivered to you within the State of New York. Your time to appear may be extendel
as provided in subdivision (b) of CPLR 3012. In the event of your failure to appear or answer,
judgment may be taken against you by default for the relief demanded in thewmplaint.
Dated: March 24,2009
Adam J. Safer
-LCeG;
Claire L. Huene
250 Park Avenue
New York, New York 10177
(212) 336-3500
Attorneys for Plaintifs
Supreme Court Records OnLine Library - page 1 of 18

TO: Jatin Suryawanshi
25 Bracchi Drive
Stamford, CT 06903
Partha Sarkar
57 Acre View Drive
Stamford, CT 06903
Sanjay Girdhar
25 Church Street
Pleasantville, NY 10570

SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF NEW YORK
UBS AG and U B S SECURITIES LLC,

Index No.
Plaintiffs,
- against -
COMPLAINT Q9
JATIN SURYAWANSHI, PARTHA SARKAR,
and SANJAY GIRDHAR,
Defendants.
Plaintiffs U B S AG and UBS Securities LLC (collectively, “UBS”),by their
undersigned attorneys, as their complaint against defendants Jatin Suryawanshi (“Suryawanshi”),
Partha Sarkar (“Sarkar”), and Sanjay Girdhar (“Girdhar”), allege as follows:
Preliminarv Statement
1. This emergency action for injunctive relief arises out of the
misappropriation of trade secrets, breach of contract, breach of fiduciary duty, unfair competition
and other wrongdoing by three of its employees, Suryawanshi, Sarkar and Girdhar. Defendants
have collectively coordinated and planned together to move to a UBS competitor, taken UBS
trade secrets - including more than 25,000 physical lines of source code for UBS’trade secret
R
algorithmic trading programs - deleted documents from U B S computers to hide their a c d
e eo
and commenced performing services for their new employer, Jefferies & Cornpany$&f!.
(“Jefferies”) while still UBS employees. m
+
% - ~4s * . o * r
2. %& %-
From defendants’ actions, it is clear that they intend to disclose, wy i
have already disclosed, vital UBS trade secrets, confidential and proprietary information to
‘et
Jefferies. They are also in flagrant violation of the notice periods (the “Notice Periods”) in their
contracts with U B S ,pursuant to which they remain UBS employees until April 5,2009 for

Sarkar and Girdhar, and until May 5,2009 for Suryawanshi. U B S has incurred, and if
defendants’ actions are not enjoined will continue to incur, irreparable harm caused by
defendants faithless abandonment of their contractual and fiduciary obligations as UBS
employees and their misappropriation of UBS trade secrets to aid a competitor.
3. UBS seeks a permanent injunction enjoining defendants from:(a) further
breaches of their contractual and fiduciary obligations to U B S ; @) commencing employment or
performing services for Jefferies prior to the end of their Notice Periods; (c) using or
disseminating UBS trade secrets, confidential or proprietary information; and (d) any further
destruction of documents relating hereto. UBS also seeks compensatory damages and forfeiture
of defendants’ U B S compensation for all times that they were performing services for Jefferies
while they were still U B S employees.
Allegations
Defendants’ Employment With UBS
4. Prior to March 6,2009, the defendants were employed by UBS in its
Algorithmic Trading Group, North America (the “Group”). Suryawanshi was a Managing
Director and the head of the Group. Sarkar was an Executive Director in the Group and Girdhar
was a Director in the Group. Sarkar and Girdhar reported to Suryawanshi.
5. Algorithmic trading is the use of computer programs to fully or partially
automate securities trading pursuant to a particular investment strategy, with the algorithm, a
mathematical formula, determining certain or all aspects of trades, such as timing, price or
quantity, as markets or financial data changes.

. ..
6. The heart of algorithmic trading, and the basis for competition in the
industry, are the computer programs used to implement investment strategies. UBS is an
industry leader in algorithmic trading.
7. The development of algorithmic trading programs and strategies is an
extremely complicated, multi-step process, and the nature, development, and source code for
U B S ’ algorithmic trading programs are closely-guarded trade secrets.

8. The source code for the Group’s programs is located on UBS’ highly
secure, password-protected computer networks. Only designated UBS employees have access to
the source code. UBS notifies all employees that the source code is a U B S trade secret and may
not be disclosed outside of UBS, and requires employees to enter into agreements to maintain the
confidentiality of such materials.
9. The defendants were integrally involved in developing UBS’ trade secret
algorithmic trading programs and had access to the source code. They entered into multiple
agreements to maintain the confidentiality of the source code and other UBS trade secrets,
including: (a) a “Confidential and Employee Inventions Agreement,” which defines UBS trade
secrets to include, among other things, “all computer programs and source codes,” and computer
“systems, processes, methods, formulas, algorithms, techniques.. .”; (b) an “Acknowledgment of
Receipt and Acceptance of Terms of U B S ’ Code of Ethics and Fundamental Practices,” which
requires defendants to protect confidential and proprietary UBS information and maintain
confidentiality “during and after employment” with UBS; and (c) their individual employment
and promotion agreements with UBS, which contain confidentiality requirements (collectively,
the employment agreements between UBS and defendants, the “Agreements”). U B S also
maintains, and defendants reviewed and acknowledged, employee manuals, policies and other

materials containing requirements and instructions for protecting U B S trade secret, confidential
and proprietary information.
10. In addition, the Agreements require defendants to give notice to UBS of
termination of employment. Suryawanshi, the head of the Group, was required to give sixty (60)
days’ notice, and Sarkar and Girdhar were required to give thirty (30) days’ notice. Whether or
not they actively work for U B S during their respective Notice Periods, defendants remain U B S
employees until the expiration thereof.
11. Suryawanshi’s Agreement also provides, among other things, that: “during
[his] employment, and for a period of 6 months from the termination date of [his] employment,”
he may not, for himself or for a third party, solicit or induce U B S employees to terminate their
employment with UBS.
12. On March 6,2009, the defendants all gave UBS notice of termination of
their respective employments with UBS. According to their respective Notice Periods, Sarkar
and Girdhar remain U B S employees until April 5,2009, and Suryawanshi remains a UBS
employee until May 5,2009.
13. At the time they gave notice, the defendants each responded the same way
when asked who their new employer was. Each initially refused to disclose such information.
The following week, Suryawanshi notified U B S that his new employer would be Jefferies, and
Sarkar and Girdhar subsequently confirmed they would be joining Jefferies as well.
14. UBS reminds departing employees of the trade secret status of its
algorithmic trading programs and other UBS trade secrets. Defendants all signed an
acknowledgment, “Information for the Departing Employee,” which reminded them that UBS
trade secrets include “computer systems and programs, specific areas of research and

. .. .
development, project work, product formulation, processing methods, formulas, models,
assignments of individual employees, testing and evaluation procedures, cost figures,
construction plans and special techniques or methods of any kind peculiar to the Firm.”
Defendants’ Misappropriation of UBS Trade Secrets,

Breaches of Fiduciary Dutv ,Breaches of Contract, and Other Wrongdoing
15. After March 6,2009, UBS commenced an investigation into defendants’
departures. UBS preliminary investigation revealed flagrant misappropriation of trade secrets,
confidential and proprietary documents and breaches of fiduciary and contractual duties by
defendants.
1. Suryawanshi’s Solicitation of
Sarkar and Girdhar to Leave UBS
16. Although defendants did not give UBS notice until March 6,2009, upon
information and belief defendants planned and intended to terminate their U B S employment
several weeks earlier.
17. Suryawanshi’s UBS and Bloomberg.net e-mail, which is made available to
U B S employees solely for use to further U B S ’business, indicates that Suryawanshi was
communicating with potential new employers, including Jefferies, by late January 2009.
18. Defendants’ coordinated departure and joint initial refusal to identify their
new employer demonstrate that the three were acting in concert, planned in advance to leave as a
group, and planned their responses to questions.
19. Given Suryawanshi’s role as head of the group and the e-mails showing
that he had been active in reaching out to potential new employers, he must have solicited Sarkar
and Girdhar to leave UBS with him. Upon information and belief, defendants were in
discussions to leave U B S by February 2009,

20. Upon information and belief, Suryawanshi used UBS facilities to solicit
Sarkar and Girdhar, and did so during time that he should have dedicated to furthering UBS’
business.
21. Suryawanshi’s solicitation of Sarkar and Girdhar was a violation of his
Agreement with and fiduciary duties to U B S .
2. Sarkar’s Takinp of UBS Trade Secret Source Code and Other Documents
22. In mid-February 2009, Sarkar sent himself vital UBS trade secrets to his
personal e-mail account, psar@rocketmail.com (a Yahoo! web-based e-mail service). On
February 18, 2009, Sarkar had sent himself an e-mail with attachments entitled “util.zip,”
“instrument.zip,” “strategy.zip,” and “0ptimalLiquidation.zip.”
23. On February 19,2009, Sarkar e-mailed an attachment called “reuters.zip”
to his personal e-mail account.
24. Sarkar’s February 18 and 19 e-mails contain more than 25,000 physical
lines of U B S trade secret source code for U B S ’ algorithmic trading programs, which could be
used to recreate UBS’algorithmic trading programs or to develop similar programs based
thereon. In addition, U B S ’ preliminary investigation has revealed that Suryawanshi selectively
deleted files from his computer on February 18 and 19,2009, the same day Sarkar e-mails UBS’
trade secret source code to himself.
25. On February 21 and February 23, Sarkar e-mailed himself two
confidential UBS presentations (the “Presentations”) from 2006 and 2008 that describe in detail
the structure, performance and strategy of the Group. The Presentations also describe U B S ’
algorithmic trading technology, and include screen shots of UBS’system. Both documents are

clearly labeled “Strictly Confidential” and are UBS trade secret, confidential and proprietary
documents.
26. Sarkar’ssending of the source code and the Presentations outside of UBS
to his personal e-mail address was a violation of U B S policy, his Agreements with and fiduciary
obligations to UBS,
27. Sarkar sent the February e-mails at a time when, upon information and
belief, he, Suryawanshi and Girdhar were already planning to leave U B S .
3. Sarkar’s Explanation for Sending the UBS Trade Secret Source

Code and Presentations to His Personal E-mail Account is Not Credible
28. On March 17,2009, UBS met with Sarkar as part of its investigation into
his taking of UBS trade secrets. At the meeting, Sarkar confirmed that psar@rocketmail.com is
his personal e-mail address, and that his new employer was Jefferies. He claimed that he
regularly sent such materials home in the course of his work for U B S . He also stated that he had
since deleted it.
29. Without being asked or told in advance by UBS what the March 17
meeting would be about, Sarkar voluntarily brought his personal laptop to the meeting and
offered it to UBS for review, He also voluntarily provided the password to his personal
psar@rocketmail.com e-mail account so that UBS could review the account and verify that the e-
mail containing the source code had been deleted. At the same time, however, he admitted that
he had at least two other computers at his home.
30. Sarkar’s explanation that he regularly sent secret source code to his
personal e-mail account in order to work on it from home is a violation of U B S policy. It is also
inconsistent with the findings of U B S ’ preliminary investigation, which does not show that
Sarkar previously sent source code home in the course of his employment with UBS. Sarkar’s

explanation also makes no sense because U B S maintains a password-protected portal for its
employees to access UBS’ computer systems from home, which obviates any need for
employees to e-mail documents to a personal e-mail address. UBS had also provided Sarkar
with a desktop computer for his home that allowed him to access UBS’ secure networks in a
manner that was consistent with U B S ’policies.
3 1. However, Sarkar would have needed to send the source code to himself at
a personal e-mail address or by other means if he intended to use it after his employment with
UBS ended, as he would at that time lose access to U B S ’ systems.
32. In addition, there is no reason why Sarkar would need to work on the
Presentations, which are from 2006 and 2008, in the course of any legitimate work he was
performing for UBS in February 2009. He must have taken the Presentations because he was
anticipating his departure from U B S , and intended to use them for his new employer, Jefferies.
4. Suryawanshi’s Deletion of Files on his UBS Computer
33. Upon information and belief, Suryawanshi deleted internet history files
from his UBS computer for four days: January 21, February 18, February 19, and March 3,2009,
during the period he was actively seeking other employment. These deletions were done on
Suryawanshi’s U B S computer and only to his user profile. As previously noted, two of the four
days, February 18 and 19, coincide with Sarkar’s transmission of UBS’ source code to his home
e-mail address.
34. Suryawanshi’s deletions were carefully done. Such selective deletions do
not occur prior to January 2 1,2009 and do not occur later than March 3,2009.

35. Upon information and belief, Suryawanshi deleted the internet history
folders only for certain days, rather than clearing the entire internet history, in order to make it
more difficult to recognize that files had been deleted.
36. Among other things, the deletions make it difficult to determine what
websites Suryawanshi accessed on those days, whether he communicated with Sarkar or Girdhar
or potential employers by such means, or whether Suryawanshi removed any documents from
U B S by uploading them to websites.
5. Sarkar and Girdhar Arrange with Jefferies to Implement

a New Platform for Jefferies’ Aleorithmic Trading
37. Using the username password that Sarkar provided at the March 17
meeting, UBS reviewed Sarkar’s rocketmail.com account, and located an e-mail chain between
Girdhar, Sarkar, and a Jeffenes employee, Narayanan Mahesh (“Mahesh”).
38. The chain begins with Girdhar sending, from his personal e-mail account,
a message to Mahesh on March 11,2009. Girdhar apparently attached a file entitled
“Algo-Fix-Spec-v-4g.pdF’ in the e-mail he sent to Mahesh.
39. Mahesh then deleted the file “Algo-Fix-Spec-v-4g.pdf’ before sending a
response to Girdhar the following day, March 12. In its place, he attached another document that
appears to be a description of what a company called FlexTrade Systems, Inc. (“FlexTrade”),
could offer Jefferies.
40. According to its website, FlexTrade is a vendor that provides “broker-
neutral algorithmic trading platforms and execution systems for equities, foreign exchange and
listed derivatives.” See http://www. flextrade.cordaboutus.php.
41. Mahesh’s response informed Girdhar that “we are scheduled to meet” with
FlexTrade “on Monday,” presumably Monday, March 16, of the time and place of the meeting,

and told Girdhar “if you get there before me ask for Syed Hussain.” Mahesh included a file
entitled “Strategy Server.pdf,” the description of what FlexTrade could offer. Mahesh directed
Girdhar to provide the e-mail to “Partha” [Sarkar] as well. Later on March 12, Girdhar
forwarded Mahesh’s e-mail and the attachment to Sarkar at psar@rocketmail.com.
42. At the time of this e-mail exchange on March 11-12, the meeting with
FlexTrade on March 16, and as of the date hereof, Sarkar and Girdhar are UBS employees.
Thus, Sarkar and Girdhar commenced performing services for Jefferies while still employed by
UBS, including providing assistance to Jefferies in connection with having a vendor, FlexTrade,
provide Jefferies’ algorithmic trading platform.
43. Sarkar’s taking of UBS source code, in conjunction with the FlexTrade
meeting to implement algorithmic trading programs, shows that defendants intend to use the UBS
trade secret source code for Jefferies, allowing Jefferies to compete with U B S using UBS’ own
trade secret, and highly successful, algorithmic trading programs.
44. U B S will suffer irreparable harm if Jefferies obtains the source code and
Presentations taken by Sarkar. Such materials constitute much of what Jefferies would need to
copy UBS’ algorithmic trading program, or to build a program based on UBS’ program, in order
to compete with UBS.
First Cause of Action

{Misappropriation of Trade Secrets - Avainst Sarkar)
45. Plaintiffs repeat and reallege the foregoing allegations as if fully set forth
herein.
46. The source code to UBS’algorithmic trading programs and the
information about the programs in the Presentations are UBS trade secrets. U B S expended
substantial time, effort, money and resources to develop the programs. Ul3S maintains the

confidentiality of the programs and the source code by allowing only designated employees to
have access to them, maintaining them on secure, password-protected locations, and requiring its
employees to enter into agreements to maintain the confidentiality thereof. The programs are the
basis of competition in the algorithmic trading industry and UBS would lose the competitive
advantage of the programs were they to be discovered by a competitor.
47. Sarkar wrongfully obtained U B S trade secrets by e-mailing to himself
more than 25,000 physical lines of source code and the Presentations shortly before leaving
Ul3S.
48. Upon information and belief, Sarkar has already commenced performing
services for Jefferies, a UBS competitor, and has used, or intends to use, U B S trade secrets for
his own or Jefferies’ benefit and to the detriment of UBS.
49. As a result of Sarkar’s actions, U B S has suffered, and will continue to
suffer, irreparable harm. UBS is entitled to injunctive relief and compensatory damages in an
amount to be determined at trial.
Second Cause of Action

JBreach of Contract - Against All Defendants)
herein.
5 1. Defendants have Agreements with UBS that require them to protect UBS
trade secrets, confidential and proprietary information. The Agreements also contain Notice
Periods, during which defendants remain U B S employees. In addition, Suryawanshi’s
Agreement with UBS prohibits him from soliciting or inducing UBS employees to leave U B S .
52. Sarkar and Girdhar breached their Agreements with UBS by commencing
work for Jefferies prior to the end of their Notice Period. Sarkar also breached his Agreements

with U B S by taking U B S trade secret, confidential and proprietary information. Suryawanshi
breached his Agreement with U B S by soliciting Sarkar and Girdhar to leave their U B S
employment.
53. U B S has fully performed its obligations under the Agreements.

54. As a result of defendants’ actions, UBS has suffered, and will continue to
suffer, irreparable harm. U B S is entitled to injunctive relief and compensatory damages in an
Third Cause of Action

IBreach of Fiduciarv Dutv - Against All Defendants)
herein.
56. During their employment with UBS, defendants owe fiduciary duties,
including a duty of loyalty, to UBS. These duties encompassed, among other things, a duty not
to misuse or disclose UBS trade secrets, confidential and proprietary information, not to perform
services for a UBS competitor, and not to misuse U B S facilities and time to solicit U B S
employees to leave their employment.
57. Sarkar and Girdhar breached their fiduciary duties to UBS by commencing
work for Jefferies prior to the end of their Notice Period. Sarkar also breached his fiduciary
duties to U B S by taking UBS trade secret, confidential and proprietary information.
Suryawanshi breached his fiduciary duties to U B S by soliciting Sarkar and Girdhar to leave their
UBS employment using UBS facilities, time and resources, and by deleting files from a U B S
computer to hide his activities.
58. Defendants remain UBS employees as of the date hereof and continue to
owe fiduciary duties to UBS until the end of their respective Notice Periods.
12

59. As a result of defendants’ actions, U B S has suffered, and will continue to
amount to be determined at trial. In addition, defendants must forfeit all compensation paid to
them by UBS during the period of their faithless conduct in aid of Jefferies.
Fourth Cause of Action

lUnfair Competition - Against All Defendants)
herein.
61. Defendants, through their employment with UBS, became aware of and
had access to UBS trade secret, confidential and proprietary information about UBS’ algorithmic
trading programs. This information is not known or readily available to UBS’ competitors.
62. Upon information and belief, based on their coordinated actions in leaving
U B S ,Sarkar’s taking of U B S trade secrets, Suryawanshi’s deletion of documents, and Sarkar’s

and Girdhar’s assistance to Jefferies while still employed by UBS, defendants have or intend to
disclose or use UBS’ trade secret, confidential and proprietary information to unfairly compete
with UBS.
63. As a result of defendants’ actions, U B S has suffered, and will continue to
Fifth Cause of Action

lconversion - Aminst Sarkar)
64. Plaintiffs repeat and reallege the foregoing allegations as if hlly set forth
herein.
13

65. Sarkar’swrongful and unauthorized obtaining, retention and use of UBS
trade secrets, confidential and proprietary information constitutes conversion of U B S ’ property.
66. Upon information and belief, Sarkar has already commenced performing
services for Jefferies, a UBS competitor, and has used, or intends to use, U B S property for his
own or Jefferies’ benefit and to the detriment of UBS.
67. As a result of Sarkar’s actions, UBS has suffered, and will continue to
Sixth Cause of Action

{Tortious Interference - Against Suryawanshi)
herein.
69. Upon information and belief, Suryawanshi used UBS facilities, time, or
other resources to induce Sarkar and Girdhar to terminate their employments with U B S .
70. As a result of Suryawanshi’s actions, UBS has suffered, and will continue
to suffer, damages. U B S is entitled to compensatory damages in an amount to be determined at
trial.
Seventh Cause of Action

lPermanent hiunction)
herein.
72. UBS is entitled to injunctive relief to prevent further irreparable harm
caused by misuse or disclosure of its trade secrets, defendants’ breaches of their Agreements
with and fiduciary duties to UBS, conversion and unfair competition.
14

73. The harm to UBS is irreparable and no legal remedy could compensate
U B S for its loss and threatened loss as a result of defendants’ conduct, which has caused the loss
of highly trained professionals and trade secrets, confidential and proprietary information.
Defendants seek to appropriate UBS’ algorithmic trading programs for their own or a
competitor’s use.
WHEREFORE, plaintiffs respectfully request that judgment be entered as
follows:
(a) On the First and Fifth Causes of Action, awarding to plaintiffs and
against Sarkar compensatory damages to be determined at trial, plus
interest, attorneys’ fees and costs;
On the Second and Fourth Causes of Action, awarding to plaintiffs
and against defendants compensatory damages to be determined at
trial, plus interest, attorneys’ fees and costs;
(c) On the Third Cause of Action, awarding to plaintiffs and against
defendants Compensatory damages to be determined at trial, plus
interest, attorneys’ fees and costs, and forfeiture of defendants’ UBS
compensation during the period they acted as faithless fiduciaries;
(d) On the Sixth Cause of Action, awarding to plaintiffs and against
Suryawanshi compensatory damages to be determined at trial, plus
interest, attorneys’ fees and costs;
(e) On the Seventh Cause of Action, a permanent injunction enjoining
defendants from (a) breaching their contractual or fiduciary duties to
U B S ,including the Notice Periods and obligations to maintain the
15

confidentiality of UBS trade secrets, confidential and proprietary
information, and (b) disclosing, using, transmitting or possessing
UBS trade secrets, confidential and proprietary information.
(f) For such other and further relief as to the Court may seem just and
proper.
Dated: March 24,2009
By: -
H
e
1 M. Mill&
Adam J. Safer
Claire L. Huene
250 Park Avenue
New York, NY 10177-0699
(212) 336-3503
Attorneys for Plaintiffs

UBS AG and U B S Securities LLC
16

Ubs Ag And: Sarkar

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Ubs Ag And: Sarkar

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ED ON 312512009

TO THE ABOVE-NAMED DEFENDANTS:

Dated: March 24,2009

Supreme Court Records OnLine Library - page 1 of 18

Supreme Court Records OnLine Library - page 2 of 18

UBS AG and U B S SECURITIES LLC,

Plaintiffs U B S AG and UBS Securities LLC (collectively, “UBS”),by their

undersigned attorneys, as their complaint against defendants Jatin Suryawanshi (“Suryawanshi”),

Partha Sarkar (“Sarkar”), and Sanjay Girdhar (“Girdhar”), allege as follows:

1. This emergency action for injunctive relief arises out of the

Supreme Court Records OnLine Library - page 3 of 18

defendants faithless abandonment of their contractual and fiduciary obligations as UBS

employees and their misappropriation of UBS trade secrets to aid a competitor.

3. UBS seeks a permanent injunction enjoining defendants from:(a) further

breaches of their contractual and fiduciary obligations to U B S ; @) commencing employment or

while they were still U B S employees.

Defendants’ Employment With UBS

4. Prior to March 6,2009, the defendants were employed by UBS in its

was a Director in the Group. Sarkar and Girdhar reported to Suryawanshi.

5. Algorithmic trading is the use of computer programs to fully or partially

quantity, as markets or financial data changes.

Supreme Court Records OnLine Library - page 4 of 18

industry leader in algorithmic trading.

7. The development of algorithmic trading programs and strategies is an

U B S ’ algorithmic trading programs are closely-guarded trade secrets.

confidentiality of such materials.

9. The defendants were integrally involved in developing UBS’ trade secret

“systems, processes, methods, formulas, algorithms, techniques.. .”; (b) an “Acknowledgment of

Supreme Court Records OnLine Library - page 5 of 18

and proprietary information.

10. In addition, the Agreements require defendants to give notice to UBS of

employees until the expiration thereof.

employment with UBS.

employee until May 5,2009.

Supreme Court Records OnLine Library - page 6 of 18

development, project work, product formulation, processing methods, formulas, models,

assignments of individual employees, testing and evaluation procedures, cost figures,

Defendants’ Misappropriation of UBS Trade Secrets,

15. After March 6,2009, UBS commenced an investigation into defendants’

departures. UBS preliminary investigation revealed flagrant misappropriation of trade secrets,

several weeks earlier.

17. Suryawanshi’s UBS and Bloomberg.net e-mail, which is made available to

group, and planned their responses to questions.

discussions to leave U B S by February 2009,

Supreme Court Records OnLine Library - page 7 of 18

21. Suryawanshi’s solicitation of Sarkar and Girdhar was a violation of his

Agreement with and fiduciary duties to U B S .

“instrument.zip,” “strategy.zip,” and “0ptimalLiquidation.zip.”

23. On February 19,2009, Sarkar e-mailed an attachment called “reuters.zip”

to his personal e-mail account.

used to recreate UBS’algorithmic trading programs or to develop similar programs based

thereon. In addition, U B S ’ preliminary investigation has revealed that Suryawanshi selectively

trade secret source code to himself.

25. On February 21 and February 23, Sarkar e-mailed himself two

Supreme Court Records OnLine Library - page 8 of 18

belief, he, Suryawanshi and Girdhar were already planning to leave U B S .

3. Sarkar’s Explanation for Sending the UBS Trade Secret Source

since deleted it.

he had at least two other computers at his home.

Supreme Court Records OnLine Library - page 9 of 18

manner that was consistent with U B S ’policies.

UBS ended, as he would at that time lose access to U B S ’ systems.