Court decides: No damage from getting Kraken’s address

What a former employee did did not cause any damage or loss to the stock market, according to the court.

A US judge has ruled that an employee who disclosed the location of a larger crypto exchange had not breached the trade secret

According to court records dated September 22, US District Judge Maxine M. Chesney dismissed a lawsuit by Payward Inc., Kraken’s mother, against former employee Nathan Peter Runyon for disclosing „trade secrets“. He had published the address of the San Francisco Stock Exchange and accessed one of the company’s protected computers.

The judge ruled that Payward did not claim Runyon used the address to gain any economic advantage. The lawsuit also did not contain any evidence that access to the computer caused „damage or loss“ to Payward.

Runyon published the address in a November 2019 lawsuit he filed against the exchange in connection with alleged breaches of contract and sanctions

He accused Kraken of unethical and illegal business practices , cheating employees out of their stock options, breaching sanctions, discriminating against him as a disabled military veteran and forging company addresses.

Payward filed a lawsuit against Runyon in March, stating that keeping his address confidential protects the company from physical threats such as worker kidnapping. The exchange also alleged that by posting the address, Runyon violated the terms of his original contract. He was employed as a financial analyst from March 2018 to August 2019.

Judge Chesney said Payward has until October 9 to file an amended lawsuit against Runyon.