SCB’s Claims Against Brokers Who Left, Poached Clients Upheld

SCB Derivatives’ suit against two brokers who used confidential information they learned at SCB to lure its clients to a competitor shortly after they left may proceed, a federal court said.

SCB is a global commodity and derivatives trading firm specializing in markets related to de-carbonization and low carbon energy alternatives. It’s a highly competitive industry and SCB invests heavily to develop and maintain client relationships.

To protect its clients’ interests but still work efficiently, SCB gives its brokers access to confidential strategies and client information. The brokers sign agreements not to solicit SCB’s clients for six months after they ...