Fidelity Says Merrill Lynch, Employee Stole Trade Secrets

Law360, New York (May 20, 2011, 2:32 PM EDT) -- Fidelity Brokerage Services LLC hit Merrill Lynch & Co. Inc. with a trade secrets lawsuit in California on Wednesday, accusing its rival of soliciting its clients using information stolen by a former Fidelity employee in breach of his contract.

Fidelity asked a California federal court to grant a temporary restraining order barring Merrill Lynch and Brendan McNamara, a former Fidelity account executive who now works for Merrill Lynch, from using confidential information about the firm's customers or trying to reach out to its clients.

The lawsuit...
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