Becker Glynn enjoins former employees of broker-dealer from transplanting business unit to competitor

The Firm brought a lawsuit against two former employees of a U.S.-based broker-dealer, both of whom had left to start a directly competing business at a competitor. After successfully obtaining a temporary restraining order against the employees and a consent decree with the competitor, the parties conducted an expedited NASD arbitration before a three-person panel, which enjoined the employees from starting a competitive business unit.