Quantlab Financial sues employee over allegations of threatening to breach an employment agreement

By Kristine Gonzales-Abella | Dec 24, 2018

HOUSTON – A quantitative financial research firm has filed a suit against a current employee over allegations of a threatened breach of contract.

Quantlab Financial LLC filed a complaint on Nov. 27 in the Harris County District Court against Chong Zhang seeking declaratory judgment.

According to the complaint, the defendant is employed by the plaintiff as a quantitative research scientist and his employment is conditioned upon his agreement to the terms of a noncompetition agreement, which Zhang accepted.

The suit states the defendant disclosed in November his intent to resign his employment to work for a competitor in a similar position. The plaintiff alleges this violates the terms of the agreement.

The plaintiff seeks declaratory judgment that the agreement in enforceable, award for attorney's fees, costs and all other relief to which plaintiff may show itself entitled. It is represented by M. Scott McDonald of Littler Mendelson PC in Dallas and others.

Harris County District Court case number 2018-84490

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Harris County District Court Littler Mendelson LLC Quantlab Financial

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