Former Wells Fargo VP Faces Trade Secrets Suit

Law360, New York (August 17, 2010, 5:25 PM EDT) -- Wells Fargo Bank NA has sued a former investment manager who left the company for a Lexington, Mass., financial advisory firm, accusing him of breaching a noncompete contract and stealing trade secrets in a plot to strip the bank of nearly $143 million in business.

Glenn Frank, who made $200,000 as a senior vice president and investment manager at Wells Fargo, used the bank's trade secrets against it to convince 58 clients to follow him to Lexington Wealth Management Inc., according to a complaint lodged Monday...
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