Core Announcement
Citadel Securities LLC submitted a formal request to the Manhattan federal court seeking permission to become a party to the insider‑trading lawsuit filed by Susquehanna International Group on June 29.
Lawsuit Background
Susquehanna International Group alleges an insider‑trading scheme that produced more than $100 million in profits through high‑risk, high‑reward options bets placed before a Chinese government regulatory crackdown announced on May 22. The trades involved U.S. exchange‑traded options on securities of Futu Holdings Ltd and Up Fintech Holding Ltd.
Citadel’s Position and Losses
Citadel describes itself as a victim of the alleged scheme, stating that it incurred an approximate loss of $28 million as a result of the same pre‑announcement options activity.
Regulatory Investigation
Both the U.S. Department of Justice and the U.S. Securities and Exchange Commission are reported to be conducting parallel investigations into the insider‑trading allegations.
Parties Involved
- Plaintiff: Susquehanna International Group (filed June 29, Manhattan federal court).
- Defendant(s): 100 unnamed “John Doe” individuals alleged to have executed the trades.
- Additional entities mentioned: Futu Holdings Ltd and Up Fintech Holding Ltd, whose securities were the subject of the options trades.
No Additional Compliance Obligations Stated
The filing does not disclose any specific compliance deadlines, remedial actions, or court‑ordered conditions beyond the request for participation.