Cantor Defeats Ex-Partners With Ruling on Noncompete Pacts (2)

Cantor Fitzgerald LP properly denied $9 million to a half-dozen former partners under non-compete agreements, the Delaware Supreme Court ruled in a decision likely to upend several other lawsuits.

New York-based Cantor’s non-compete provisions weren’t overly broad, the state’s highest court ruled Monday, overturning a judge who last year invalidated those terms. Delaware Chancery Court Judge Morgan Zurn’s decision finding Cantor’s non-compete agreements applied to an overly expansive range of “competitive activity” had since been cited in other suits by former partners.

In a 36-page opinion by Justice Gary Traynor, the state supreme court said Zurn had ...