Suntrust Wins Against Schwab Soliciting Customer Clients
A federal judge in Florida denied Charles Schwab & Co. Inc.’s bid for a preliminary injunction on Wednesday in a trade secrets and unfair competition case against SunTrust Investment Services Inc. and two ex-Schwab workers who allegedly used misappropriated customer data to solicit Schwab clients.
U.S. District Judge Kenneth Marra denied a Nov. 17, 2011 motion for a preliminary injunction barring the use of Schwab’s customer data, which Schwab claimed constituted “continued violations” of the employment agreements signed by former Schwab financial consultants Christopher Haffey and Lance Longwater.
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