AllianceBernstein Sues Ex-Adviser Over Morgan Stanley Jump

Law360, New York (April 3, 2012, 6:57 PM EDT) -- AllianceBernstein LP on Monday accused a former financial adviser of stealing trade secrets and using the information to lure wealthy clients after he abruptly left the firm Friday for a new gig at Morgan Stanley.

In a lawsuit filed in New York state court, the asset management firm claims William Atha signed confidentiality and nonsolicitation agreements when he opted into stock option programs that expressly bar participating employees from enticing AllianceBernstein clients to leave the firm.

The agreements also require higher-level employees like Atha — a...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.