Ex-CEO Of Valley National Unit Says Law Firm Misguided Him

Law360, New York (August 9, 2013, 9:22 PM EDT) -- The co-founder of a Valley National Bank subsidiary has sued the Hamburger Law Firm LLC in New Jersey for allegedly negligent guidance on how he could leave the investment adviser and start his own company.

In a July 29 suit in Bergen County Superior Court, Robert C. Kleiber, one-time president and CEO of New Century Asset Management Inc., contends that poor advice led to a lawsuit from Valley National and New Century after he formed Compass Financial Management LLC in 2011.

The court blocked Kleiber and...
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