Meeder Owes Attys' Fees In Noncompete Row, 10th Circ. Says

Law360, Los Angeles (February 12, 2014, 6:25 PM EST) -- The Tenth Circuit ruled Wednesday that Meeder Asset Management Inc. owes $164,000 in attorneys' fees to rival Icon Advisers Inc. in a dispute over a former Icon employee's noncompete agreement, finding the parties had authorized a Financial Industry Regulatory Authority panel to award the fees in arbitration.

Reversing a Colorado federal judge's decision vacating the award, the appeals court determined that, because both Icon and Meeder had requested attorneys' fees in the row over a former Icon executive allegedly breaking a retirement agreement by joining Meeder,...
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