B. Riley Accuses Former Senior Banker of Trade Secrets Theft (3)

B. Riley Financial Inc. accused a former top investment banker of scheming to steal clients and staff for his new employer, Texas Capital Bank.

In a lawsuit filed in Dallas last week, B. Riley claimed David Merriman unexpectedly resigned from his position as a senior managing director just before Thanksgiving but had been plotting with Texas Capital even before then.

“Merriman’s departure was part of Texas Capital Securities’ and his long-conducted, continuing scheme to misappropriate B. Riley’s trade secrets and confidential materials,” B. Riley said in its lawsuit.

Merriman couldn’t immediately be reached for comment, but he filed his ...