Deutsche Raid Sparks Legal Tussle Over Contracts

Law360, New York (March 28, 2007, 12:00 AM EDT) -- A Deutsche Bank raid of 16 money managers at Invesco Institutional Inc. who helped oversee $96 billion in the company’s assets has prompted a legal battle over the legality of the managers’ employment contracts.

Former Invesco senior executives Stephen M. Johnson, James F. Guenther and Kenneth R. Bowling filed a lawsuit Wednesday in Jefferson County Circuit Court in Kentucky against Invesco, claiming that a provision in their employment contracts that prevents them from resigning without 12-months notice is “unreasonable in breadth and scope, and otherwise unenforceable...
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