Fidelity Sues To Stop Ex-Employees From Taking Clients

Law360, New York (February 5, 2010, 5:06 PM EST) -- Fidelity Brokerage Services LLC has filed a lawsuit against Morgan Stanley Smith Barney LLC and two former Fidelity employees recently hired by Morgan Stanley, seeking to stop them from breaching a contract by misappropriating Fidelity's trade secrets and stealing its customers.

In a complaint filed Thursday in the U.S. District Court for the Middle District of Florida, Fidelity said a preliminary injunction was necessary to keep the two former Fidelity employees from misappropriating trade secrets. Fidelity also sought an order compelling arbitration before a Financial Industry...
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