Radian Group Claims Arch Capital Poached Key Worker
By Dan Packel
Law360, Philadelphia (October 24, 2013, 6:06 PM ET) -- Mortgage insurer Radian Group Inc. sued its competitor Arch Capital Group Ltd. in Pennsylvania federal court on Wednesday, alleging the rival had poached a former Radian employee who had stolen confidential information and relayed trade secrets connected to insurance accounts totaling over $2.6 billion.
The company says that Rhiannon Bolen breached restrictive covenants and took along trade secrets when she moved to Arch, which is in the process of entering into the U.S. mortgage insurance market.
“The knowledge Bolen gained from Radian’s confidential information and trade...