Merrill Says Deutsche Bank Poached Financial Group

Law360, New York (March 5, 2009, 12:00 AM EST) -- Investment giant Merrill Lynch & Co. Inc. is seeking $100 million in damages from rival Deutsche Bank, claiming Deutsche Bank compromised its trade secrets when it improperly hired 12 former employees from Merrill's financial institutions group last February.

The suit, filed on Tuesday in the New York State Supreme Court, accuses Deutsche Bank of raiding and unfair competition, aiding and abetting breaches of loyalty and fiduciary duty, tortious interference, breach of contract and misappropriation of trade secrets and confidential information.

The suit also names former Merrill...
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