Thomas Weisel Exec Liable For Paribas Raid: Judge

Law360, New York (April 5, 2010, 4:49 PM EDT) -- A federal judge has found that a former director at the Indian operations of investment bank Thomas Weisel Partners LLC breached his fiduciary duty by essentially overseeing the en masse defection of two dozen employees to BNP Paribas.

Judge Marilyn Patel of the U.S. District Court for the Northern District of California ruled Wednesday that Praveen Chakravarty breached his fiduciary duty by identifying which of Thomas Weisel's employees would be good staffers for BNP and coordinating their interviews.

Thomas Weisel will likely ask for between $7...
To view the full article, register now.