Chase Says Ex-Adviser Stole Biz For Morgan Stanley

Law360, New York (July 8, 2010, 3:21 PM EDT) -- A unit of JPMorgan Chase & Co. has accused a former financial adviser who left for Morgan Stanley Smith Barney of poaching clients and confidential information for the rival firm, in breach of several employment contracts.

Chase Investment Services Corp. filed a petition Wednesday in the Supreme Court for the State of New York, alleging Michael Lupia had contacted at least 125 of his old clients to convince them to take their business to his new boss.

In some instances, he offered discounts to Chase clients...
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