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Stock impact report

A senior exec is suing trading firm Vatic, saying it stiffed him on $1.5 million and blamed 'funding difficulties' [Business Insider]

Virtu Financial, Inc. Class A (VIRT) 
Last virtu financial, inc. class a earnings: 2/11 06:00 am Check Earnings Report
Have an account? Log in Vatic trading exec Rosen Kralev resigned and sued the quant trading firm over an unpaid $1.5M bonus. The suit says Vatic's founder repeatedly blamed the missed payments on "funding difficulties." It's the second suit in the past year alleging nonpayment and financial strain at Vatic. A senior executive at quantitative trading firm Vatic Labs resigned last month and sued the company, alleging it failed to pay most of a contractually guaranteed $1.5 million bonus, according to a complaint filed in Delaware Superior Court. Rosen Kralev, the former director of trading at the high-frequency trading firm, alleges in court papers that Vatic for months blamed the missed payments on difficulties raising funds. It is the second instance in the past year of a former Vatic executive suing the firm over alleged nonpayment. The complaints by former employees give a rare peek inside a systematic proprietary trading firm's efforts to raise capital and expand its b Show less Read more
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