11th Circ. Backs Schwab's $1.4M Trade Secrets Award

Law360, New York (July 20, 2011, 7:37 PM EDT) -- The Eleventh Circuit on Wednesday upheld a $1.4 million award for Charles Schwab & Co. Inc. in trade secrets arbitration against a former employee accused of breaching a contract and soliciting Schwab clients after jumping ship to Banc of America Investment Services Inc.

The appeals court affirmed a Florida federal court's ruling that plaintiff Javier Aviles failed to prove that the award was arbitrary and capricious, or that one of the arbitrators was biased against him.

The judges explained that, in reviews of an arbitration panel's...
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