2011

Raymond James Defeats Breach of Restrictive Covenant, Conspiracy Claims

Europe | Europe - United Kingdom

Raymond James, a diversified financial services company, and seven former Edward Jones financial advisors defended a high-value and legally significant High Court Restrictive Covenant claim by the advisers' ex-employer, Towry E.J., for alleged breach of restrictive covenants and conspiracy. Faegre Baker Daniels represented Raymond James in the dispute. 

The decision handed down by the Court was a ringing endorsement of the recruitment process adopted by Raymond James as well as the actions of the advisors. Following a two-month trial involving more than 40 witnesses, the judge comprehensively exonerated the defendants of all allegations of breach of their restrictive covenants, misuse of confidential information and alleged conspiracy to induce breach of contract. It was one of the most hard-fought and longest running cases in 2011 and culminated in a resounding victory against Towry, including an exceptional award of costs on an indemnity basis.

Towry EJ Ltd v Raymond James & Others [2012] EWHC 224 (QB)

 

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