A federal judge denied Alpha Futures’ motion for a preliminary injunction against NinjaTrader on August 20, 2026, and denied its temporary restraining order motion as moot, Capital Critic reported from the docket. At the parties’ request, the case was referred to Magistrate Judge Heather K. McShain for a settlement conference. The underlying claims are still pending, and the order sets no account or trading terms.
What the court decided
Alpha narrowed its injunction request to a single count, misappropriation under the Illinois Trade Secrets Act, and lost it. The order says Alpha “failed to meet its burden of demonstrating a likelihood of success”, and it records Alpha conceding that NinjaTrader properly had the customer information through its own end-user agreements, according to Capital Critic. With preliminary relief denied, the earlier restraining order motion fell away as moot.
The claims in the amended complaint
Alpha Futures, Limited filed a 12-page verified complaint on July 24, 2026 in the U.S. District Court for the Northern District of Illinois, naming NinjaTrader Group, LLC and Tradovate, LLC as defendants. The case is assigned to Judge John Robert Blakey, with Magistrate Judge McShain (docket 1:26-cv-08846).
The amended verified complaint of August 6 carries four counts: trade-secret misappropriation under the Illinois Trade Secrets Act, defamation, tortious interference and conversion. Alpha alleges that NinjaTrader solicited its clients by email and social media after terminating services, and that NinjaTrader views Alpha as a potential future competitor. Alpha director George Kohler verified the complaint. These are allegations, and NinjaTrader’s response to the amended complaint is due September 4, 2026.
Why the platform’s end-user agreement matters
The concession recorded in the order is the part that touches traders directly. A trader accepts the platform’s end-user agreement with the platform itself when the account is set up, alongside, not inside, the agreement with the prop firm. That is the basis on which Alpha accepted that NinjaTrader held the customer information properly. Nothing in the reported order addresses what Alpha’s own evaluation or funded-account terms require, and an evaluation remains a paid service traded in simulation.
What happens next
The settlement conference before Magistrate Judge McShain came at the parties’ request rather than on the court’s own motion. A denied preliminary injunction is not a ruling on the merits of the four counts, which remain before Judge Blakey while the parties talk.
