The firm’s client is an investment advisor representative who resigned from his prior investment advisory firm in May of 2022. Almost one month after his resignation his prior firm filed pleadings in federal court in Maryland seeking a temporary restraining order, a preliminary injunction, and monetary damages. It claimed that he misappropriated its trade secrets (client list), solicited clients and accepted client accounts in breach of his contractual restrictive covenants. Our client denied misappropriating any such information, denied soliciting his clients since he merely announced his departure and that it was improper for his prior firm to attempt to prevent him from accepting client accounts. After the court reviewed the briefs and heard in person oral argument the court denied the request for injunctive relief in its entirety. The court found that the Plaintiff failed to show a reasonable likelihood of success on the merits or that our client breached the terms of his contract.
Denis Dice, the managing partner of the WSS Philadelphia office handled the oral argument.