Judge Rejects J.P. Morgan Advisor’s Bid For TRO To Thwart Client Poaching
From the Desk of Jim Eccleston at Eccleston Law:
A federal judge has rejected a former J.P. Morgan advisor’s unusual bid to halt private bankers at her prior firm from soliciting her clients in a “high-stakes” client poaching case.
According to the federal judge’s order, the ex-J.P. Morgan advisor, Gwen Campbell, failed to meet the required standards to justify the “extraordinary remedy” of a temporary restraining order (TRO) or injunction. According to the federal judge, Campbell failed to prove “irreparable harm.” However, Campbell still may prevail on her breach of contract and damage claims in a parallel arbitration proceeding.
Campbell originally filed her bid to stop J.P. Morgan private bankers from soliciting her billion-dollar client book, which includes former baseball star Alex Rodriguez. Upon leaving for Merrill Lynch last year Campbell alleged that she had been “lured into a shark tank in which Private Bank employees defame her to her own clients and attempt to poach client assets.”
Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory, disciplinary and transition matters.
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