Leader in residential mortgage industry wins full dismissal with prejudice of employee solicitation and theft of confidential information allegations

Client(s) Leader in the residential mortgage industry

The Jones Day team won a complete victory for a leader in the residential mortgage industry in a case filed by a competitor. The competitor alleged that our client orchestrated the improper recruitment of loan officers from the competitor, and that in doing so our client took confidential information and improperly diverted loans. After securing the dismissal of several causes of action as preempted by the California Uniform Trade Secrets Act, the Jones Day team then defeated the remaining tort and unfair competition claims as a matter of law. Jones Day convincingly established that California law and public policy could not support the competitor's broad theories of fiduciary duty or duty of loyalty. Two weeks after discovery closed, the court dismissed the entire case with prejudice.