Hedge Funds

Renaissance 'theft' case is an industry whodunnit

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Griffin and Wepsic join battle against Millennium and its Russian scientists

Jim Simons, founder of Renaissance Technologies, has received support from other big guns in the hedge fund industry, such as Ken Griffin, founder of Citadel, and Eric Wepsic, a senior executive at D.E. Shaw, who have testified on his side in a legal action recently launched against Millennium Partners and two of their Russian scientists alleging that they conspired to steal Renaissance's phenomenally successful statistical arbitrage program.

The case is already attracting the keen attention of many of the leading hedge fund groups as it may prove to be