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Millennium seeks $2.5m from former Dymon portfolio manager

Millennium Management, which manages about $92 billion, is asking for HKD19.7 million tied to costs it incurred while preparing a hiring move that was later abandoned.

Reported · Written up by our desk · Hedge Funds

Millennium Management is pursuing legal action against Tang Lin, a Hong Kong portfolio manager at Dymon Asia Capital, after she accepted an offer from Millennium but then decided to remain with her current employer, according to Bloomberg as cited by Hedgeweek.

Millennium, which manages about $92 billion, is seeking HKD19.7 million, roughly $2.5 million, described as “liquidation costs” related to the abandoned hiring process, though it is unclear when Tang accepted the offer or which specific expenses are included.

The case started at Hong Kong’s Labour Tribunal and was later transferred to the city’s High Court, where a procedural hearing was held Tuesday. Lawyers for both sides agreed on a timetable for exchanging documents, and no further hearing date has been announced.

Millennium and Dymon reportedly declined to comment, while Tang did not immediately respond to requests for comment.

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