Tr?id=566623520170033&ev=PageView&noscript=1

Judge Directs RIA's Poaching Suit Against Cambridge to Arbitration

Posted on August 7th, 2023 at 1:37 PM
Judge Directs RIA's Poaching Suit Against Cambridge to Arbitration

From the desk of Jim Eccleston at Eccleston Law 

A Virginia federal judge recently dismissed a complaint filed by a registered investment advisor (RIA), Colonial River Wealth Advisors, against broker-dealer Cambridge Investment Research, in favor of arbitration to resolve the dispute.

The lawsuit, filed on November 10, 2022, in the U.S. District Court for the Eastern District of Virginia in Richmond, accused the broker-dealer of assisting advisor Jayne W. Di Vincenzo, also a defendant in the suit, in soliciting her clients from Colonial River after she sold her business.

The plaintiff claimed damages of at least $8 million, accusing Cambridge Investment and Di Vincenzo of tortious interference with contract and tortious interference with business expectancy. The RIA further alleged that Cambridge and Di Vincenzo engaged in business conspiracy and common-law civil conspiracy and that Di Vincenzo breached her contract.

However, according to ThinkAdvisor, Judge Roderick C. Young granted the defendants’ motion to dismiss the claims due to a lack of subject matter jurisdiction. Judge Young ordered the parties to resolve the dispute through arbitration, stating that the matter falls under a binding arbitration clause, as mentioned in the opinion.

 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

 

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

I learned two important things working with Eccleston Law. First, I made a friend and ally with Jim and Steph for life. Secondly, and this is a crucial life lesson - if you need counsel, then seek out the very best. Jim was referred to me by a most trusted source. I've never had to hire an attorney for anything. Now, I know the value of hiring an important partner. Meticulous, thorough and detailed in preparation is the best way to describe Jim. Brilliant too, I might add. Bottom line, I would highly highly recommend Jim and Stephany for your legal needs. One of the best life decisions I've ever made.

Howard S.

LATEST NEWS AND ARTICLES

1787947445 Law
August 28, 2026
SEC Accuses Goliath Ventures of $425 Million Crypto Investment Ponzi Scheme

The Securities and Exchange Commission (SEC) has filed a civil complaint against Goliath Ventures Inc.

1787852053 Law
August 27, 2026
United Capital Revives Lawsuit Against Osaic

According to AdvisorHub, United Capital Financial Advisors has revived its lawsuit against independent broker-dealer Osaic by filing an amended complaint that reframes the dispute around the alleged misuse of confidential information obtained during Osaic's unsuccessful effort to acquire the firm.

1787765850 Law
August 26, 2026
FINRA Orders WestPark Capital to Pay $520,000 Over GWG L Bond Sales

The fallout from the collapse of GWG Holdings continues to affect the broker-dealers that sold the company's illiquid L bonds.