ETrade Hits Ex-Employees With Trade Secrets Suit

Law360, New York (March 25, 2008, 12:00 AM EDT) -- Online brokerage firm ETrade Financial Corp. has sued two former employees and a Bank of America subsidiary for allegedly misappropriating trade secret information to poach its customers.

In a complaint filed Monday with the U.S. District Court for the Southern District of New York, ETrade asked for a preliminary injunction to “prevent defendants' ongoing misuse of its confidential customer lists and financial information.”

The New York-based company also filed a statement of claim with the Financial Industry Regulatory Authority to commence an expedited arbitration against the...
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