Smith Barney v. Jennifer Davis, Merrill Lynch, Pierce, Fenner & Smith Inc.
Published: Nov. 29, 2008 | Result Date: Sep. 6, 2008 | Filing Date: Jan. 1, 1900 |Case number: 08-02495 Arbitration – Injunction granted
Court
Arbitration Forum
Attorneys
Claimant
Respondent
Geoffrey R. Gordon-Creed
(Gordon-Creed Kelley Holl & Sugerman LLP)
Paul V. Simpson
(Simpson, Garrity, Innes & Jacuzzi PC)
Facts
Claimant Smith Barney filed a statement of claim against respondents Jennifer Davis, Merrill Lynch, and Pierce, Fenner & Smith Inc. after Davis ended her employment with claimant and commenced working for Merrill Lynch. Claimant alleged misappropriation of trade secrets; breach of written and oral contracts; intentional interference with prospective economic advantage; unfair competition; and requested injunctive relief.
Damages
Claimant sought a permanent injunction requiring that: Davis and Merrill Lynch return all records of accounts assigned to Davis and that respondents be enjoined from using or disclosing any information contained in the records; Davis be enjoined for one year from soliciting any accounts assigned to her pursuant to a Joint Production Agreement (JPA) or Account Referral Agreement (ARAL); Davis be enjoined for one year from accepting business from any client solicited in violation of the JPA or ARAL or whose records and information were used in violation of Davis' use of claimant's confidential information. Claimant also sought unspecified compensatory damages; interest; punitive damages; attorney fees; restitution and disgorgement of profits; and costs.
Result
The panel granted claimant's request for a one-year injunction from June 13, 2008 to June 13, 2009, finding Davis exceeded the limits of protocol and partnership agreement. It did not consider claimant's claims for damages, finding they were not an issue.
Other Information
On July 31, 2008, claimant filed a proposed amended statement of claim. On Aug. 8, the panel granted claimant's request to withdraw part of its request for injunctive relief. It granted claimant a permanent injunction on Aug. 19. Davis' requested clarification of the scope of the injunction on Aug. 22, which the panel denied. ARBITRATORS: Walter J. Huntley, III, Shawn Ridgell, Donald S. Duerson.
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