Morgan Stanley Accuses Ex-Brokers Of Client Poaching

Law360, New York (January 25, 2013, 2:20 PM EST) -- Morgan Stanley Smith Barney LLC launched a suit in New York state court Thursday alleging two financial advisers breached their employment agreements by jumping ship to Credit Suisse Securities (USA) LLC and soliciting Morgan Stanley customers to transfer their business.

Morgan Stanley says Brian Melbourne and Brian Shepherd had been part of the so-called Coleman Group at Morgan Stanley, which provides stock benefits management services to corporations.

Assigned to service employees' accounts, Melbourne and Shepherd were given the opportunity to develop additional business with these customers...
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