No it wasn't, Again, if you think employee's stealing from the company is fine you're living in a different universe.
David Magerman would have the same problems at AQR as with his current boss.There is 28 principals there listed on their website.They would put him through meat grinder there and spit him out only for his knowledge and nothing else. Doubtful he would get any respect there. Second thing of an issue would be among these 28 principals statistically speaking there were 40% who voted for Trump http://www.nytimes.com/elections/results/connecticut In a town of Greenwich itself for every 3 votes for Clinton there were 2 votes for Trump.So on average 11 of company principals are Trump supporters.Instead of one Trump guy now he possibly would be working for 11 of them haha! Your post says,to put this into perspective:In the animal world predators are put on notice and he is wounded animal and they are waiting to eat him for lunch. This guy is not a piker,he is big leagues.If he gets bored he should run his own show.The article posted from one of the replies states he gave around 50 million to charity so his net worth must be at least 6 times that.He does not have to work at all,he can live comfy lifestyle. From trading perspective and looking at the situation like a business he has only problem with Mercer.Things will cool off and Jim Simons will meet with him and all will be good again like in the family. One thing is to have a disagreement with a boss,quite another is to be a fool and run to some other outfit and compete with everyone he worked with at Rentec.These are his colleagues,the place made him very wealthy and all this for what to sell out. I can understand if he traded his own money and that's it.This is fair. Yeah, from disliking your boss to going somewhere else to basically compete with everyone you worked with sound really stupid to me.Rentec employees are invested in the fund,not only the boss.It is the most prestige place to work,everywhere else would be like a downgrade.
David Magerman is deeply religious,he should read some of the Proverbs before doing anything stupid. Definitely would be a downgrade AQR results,very,very average https://funds.aqr.com/total-returns#class-i https://funds.aqr.com/our-funds/alternative-investment-funds/long-short-equity-fund#qleix Glassdoor reviews tell an interesting tale https://www.glassdoor.co.uk/Reviews/Employee-Review-AQR-Capital-Management-RVW13073624.htm Compare all this with Rentec ...I say no more
When you have a widely recognized talent, in a competitive environment like hedge funds you'll always get 2nd and 3rd chances, case in point sports & tech etc..
It was only ever thrown out based on a technicality, basically under an obscure 1967 law that if something is written on paper it isn't "tangible". There was never any doubt that he stole code that was written by him and his team while being paid to do so by GS, never any determination that he was OK because he was "just taking open source" software, never any determination that inserting a single line of open source makes an entire codebase open source, never any determination that it's OK to steal code you were paid to create if your employer strips out the open source license from the headers...those are all red herrings thrown out by the robin hood crowd.
Reread the article again. It clearly states that the coder did not take anything proprietary in nature. In fact, the mock jury was incredulous that the guy did not take any of the code dealing with trading strategies. The whole case against this guy makes a mockery of our judicial system. But since it is Goldman Sachs, I guess they can get away with it.
The jury determined that he did. A "mock jury" brought together by a men's magazine to present a highly colored view of the case (evil Goldman!!) didn't have access to the case, not to mention that they openly said it was fine to take code you were paid to produce because "everybody did it", so their opinion is worth less than nothing. Again, the real jury found him guilty of taking the code, that's a settled matter.