Mergers Can Start Noncompete Clocks, Ohio Court Says

Law360, New York (May 24, 2012, 9:49 PM EDT) -- The Ohio Supreme Court on Thursday ruled that a merger sets a noncompete agreement in motion when the deal makes no provision for its continuation after a merger, refusing to let an insurance services provider enforce its predecessors' contracts with employees.

In a 4-3 decision, Ohio's highest court concluded that Acordia LLC could not enforce two-year noncompete agreements against employees who jumped to a competitor because the contracts they signed with the company's predecessor did not contain language extending the employees' obligations to its successors or...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.