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Merrill Lynch Sues Ex-Advisers For Stealing Clients

Law360 (June 11, 2009, 12:00 AM EDT) -- Bank of America Corp.'s Merrill Lynch has sued three former investment advisers alleging they stole confidential information on their departure in a “cunning attempt” to woo clients to their new employer, boutique investment firm Fusion Analytics Investment Partners.

In a complaint for preliminary injunctive relief filed Wednesday in the U.S. District Court for the Southern District of Florida, Merrill Lynch accuses Peter Weitz, Steven Weitz and Eugene Morgia of employing a scheme “laced with deception” to steal client accounts worth over $130 million.

According to the...
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