Pastore & Dailey successfully obtained a temporary restraining order and preliminary injunction in New York State Court for one of our clients. The client provides financial advisory services, including analysis and consulting related to Residential mortgage-backed securities, other securities, and other complex assets, to some of the largest financial institutions and law firms in the world. This dispute arose when a group of our client’s employees all resigned around the same time and together joined a new, competing venture just formed. The former employees have restrictive covenants in their employment agreements with our client not to solicit our client’s employees or clients, or use or disclose its confidential information and trade secrets. Recognizing the enforceability of those employment agreements, the Court issued a temporary restraining order and preliminary injunction to protect our client’s confidential information, trade secrets, employees, and client base pending the outcome of a Financial Industry Regulatory Authority (FINRA) arbitration our firm instituted on behalf of our client.
Pastore & Dailey announces the successful creation of an “angel investor” fund for a Venture Capital client. The 5 Million dollar fund was formed in South Carolina and focuses on investments in small East Coast companies. Pastore & Dailey helped prepare all corporate documentation and performed all necessary and pertinent regulatory filings and work related to both U.S. Securities and Exchange Commission (“SEC”) and South Carolina requirements.
Pastore & Dailey recently obtained a preliminary injunction in NYS Supreme Court (New York County) against 2 ex-employees of a financial services firm (including a FINRA member firm), ordering them to abide by non-solicitation clauses (of customers and fellow employees) in their employment agreements. The injunction lasts for one year from the termination date of the employees’ employment.