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Marshall Wace challenges Citadel’s broad document requests in arbitration

The dispute is tied to Citadel’s bid to seek records from Marshall Wace as part of an arbitration over Daniel Shatz’s deferred compensation and alleged confidential information.

Reported · Written up by our desk · Hedge Funds

Marshall Wace has pushed back against document demands from rival hedge fund Citadel, arguing the requests are excessively broad and burdensome, according to a Bloomberg report cited by Hedgeweek.

In a New York court filing, Marshall Wace said Citadel is seeking extensive searches using highly common search terms and declined what it described as meaningful discussions to narrow the scope of the requests.

The filing is part of an arbitration involving Citadel and former Citadel portfolio manager Daniel Shatz, who joined Marshall Wace in 2024 as global head of credit.

Shatz claims Citadel withheld an eight-figure deferred compensation award after his departure as retaliation for concerns he raised about potential securities violations, while Citadel says he breached his employment agreement by taking confidential information and has sought access to communications and other records held by Marshall Wace. A New York judge ruled in June that Citadel could subpoena Marshall Wace.

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