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Citadel drops US lawsuit against Portofino after winning UK arbitration award

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Citadel has voluntarily dismissed its U.S. trade secrets lawsuit against Portofino, citing concerns that a second judgment would likely go uncollected. The decision follows Citadel's successful 6 million-pound arbitration victory in London. Rather than pursuing parallel legal action in the United States, Citadel is now seeking a bankruptcy order in the UK against Portofino's founder. The move signals a shift in Citadel's legal strategy toward enforcing its existing UK award rather than obtaining a redundant U.S. ruling.

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