Citadel Voluntarily Dismisses U.S. Trade Secret Lawsuit Against Portofino

Official Statement

London, 14 July 2026

Following Portofino's Motion to Dismiss, Citadel Securities voluntarily dismissed all of its claims against Portofino with prejudice, bringing the U.S. proceedings to a close on a final and permanent basis.

The dismissal concludes more than three years of U.S. trade secret litigation in Portofino's favour and brings this chapter of the dispute to an end.

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David Slarskey, U.S. counsel for Portofino Technologies, said:

"Citadel voluntarily dismissed its trade secret claims with prejudice because it never had a good-faith basis to assert a theft of trade secrets and, after more than three years of litigation, never identified any trade secrets allegedly misappropriated by Portofino."

Throughout the litigation, Portofino continued to grow its institutional digital asset franchise. Today, the company remains focused on expanding its technology, strengthening client partnerships and advancing institutional market infrastructure.

Case Timeline

The following timeline summarises the key milestones in the U.S. proceedings.

June 2023 - Citadel Securities files a U.S. trade secret lawsuit against Portofino Technologies in the United States District Court for the Southern District of New York - case No.: 1:23-cv-05222 (GHW)

June 2026 - Portofino files a Motion to Dismiss, arguing that Citadel was legally barred from relitigating trade secret allegations that a London arbitration tribunal had already decided are entirely without merit.

July 2026 - Citadel voluntarily dismisses all U.S. trade secret claims with prejudice without any recovery against Portofino.

Court Documents

• Motion to Dismiss filed by Portofino Technologies (18 June 2026)
• Notice of Voluntary Dismissal filed by Citadel Securities (8 July 2026)

About Portofino Technologies

Founded in 2021, Portofino Technologies is a crypto-native technology company building institutional market infrastructure for digital assets. The company partners with token issuers, exchanges and institutional investors worldwide, delivering technology-driven liquidity and trading solutions across global digital asset markets.

Media enquiries

contact@portofino.tech

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