Carlile Patchen and Murphy is pleased to announce it prevailed in arbitration before American Arbitration Association (AAA) Commercial Arbitration, securing a multi-million dollar award against Wells Fargo Advisors.
Bryan M. Pritikin, Michael J. King, and Grace E. Dunn of CPM’s litigation group led the firm’s representation against the bank and its advisor. After more than three years of litigation, the case culminated in an eight-day hearing and live testimony from six witnesses.
CPM represented WealthBridge Capital Management, LLC, a prominent local investment firm, in its claims against Wells Fargo and its advisor. The litigation included claims for Breach of Contract (including violation of several restrictive covenants, including non-compete, non-solicitation, and confidentiality agreements), Misappropriation of Trade Secrets and Confidential Information under the Ohio Uniform Trade Secrets Act, Tortious Interference with Business Relations, Breach of Loyalty/Faithless Servant, Conversion against the advisor, and Tortious Interference with Contract and Business Relations against Wells Fargo related to its recruitment and onboarding of the advisor.
The Arbitrator ruled in favor of WealthBridge, awarding a multi-million dollar judgment in compensatory damages, all litigation costs, and attorney fees. WealthBridge is pleased with the Arbitrator’s decision, which holds corporate entities like Wells Fargo accountable and sets an important precedent vital for the fair and equal protection of locally owned businesses in the financial services industry.
0 Comments