ST. LOUIS — An investment bank is suing Barrett Landon Boehm and J.J.B. Hilliard, W.L. Lyons LLC, citing alleged tortious interference with prospective economic advantage resulting to unfair competition.
Piper Jaffray and Co. filed a complaint on April 7 in the U.S. District Court for the Eastern District of Missouri against the defendants alleging that they violated the Defend Trade Secrets Act of 2016 and The Missouri Uniform Trade Secret Act.
According to the complaint, the plaintiff alleges that on March 3, the plaintiff received a letter of resignation by Boehm leaving his position as senior executive vice president of the company. After his resignation, the plaintiff claims Boehm started working for J.J.B. Hilliard prior to the 60-day notice, lost old and potential clients that would later sign with J.J.B. Hilliard and lost confidential files, trade secret information and clients contacts. All of these are still in the bounds of the stock agreement and employee handbook Boehm signed, the complaint states.
The plaintiff alleges the defendants failed to comply with the signed contract under the agreement and handbook. Boehm failed his duty of confidentiality by improperly using and disclosing Piper's confidential information and failed his duty of loyalty to plaintiff by engaging in competitive activities which includes soliciting business on behalf of defendant Hilliard, and actively working to persuade Piper's clients to move business from Piper to Hilliard.
The plaintiff requests a trial by jury and seeks judgment for all damages incurred, issuance of injunction precluding Boehm from using Piper's confidential information and such other relief as the Court deems just and proper. They are represented by Caroline M. Tinsley and Megan Sterchi Lammert of Baker Sterchi Cowden and Rice, LLC in St. Louis and Roy A. Ginsburg and Andrew D. Peters of Jones Day in Minneapolos, Minnesota.
U.S. District Court for the Eastern District of Missouri Case number 4:17-cv-01275