7 of Goldman Sachs’ former executives sued for leaving for Credit Suisse

February 18, 2010 - 8:57am | Law aspects | News |
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7 of Goldman Sachs’ former executives sued for leaving for Credit Suisse

7 of Goldman Sachs’ former private wealth management division executives have been prosecuted by the company for abruptly leaving the company to join the rival Credit Suisse earlier in February, according to the court documents.

In the compliant, Goldman requested the court restrain the defendants from using or disclosing Goldman's proprietary information and to return any company documents that maybe in possession of the defendants.

As the Goldman says in the court filing, on February, 5 three investment professionals at the vice president level, two associates and two managers left the company for Credit Suisse. It’s also known, that Credit Suisse had induced the team with tens of millions of dollars for the defection.

The defendants, Goldman's Atlanta office employees, immediately started alluring Goldman’s clients and employees in violation of the non-solicitation agreement agreed to by them, as the documents prove.

Besides, David Greene, one of the defendants had notified Goldman's Atlanta office head that Credit Suisse had agreed to pay him $11 million to join the firm. The other six defendants listed in the complaint are Craig Savage, Andrew Thompson, Sharran Srivatsaa, John Pitt, Stephanie Dennard and Kim Tyson.

 

 




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