Focus Financial, Hightower Trade Secret Suit Tossed in Delaware

Focus Financial Partners LLC must litigate its trade secret dispute with competitor Hightower Advisors LLC and a former executive in California after a judge tossed out a parallel case in Delaware.

Focus Financial, which funds a network of investment advisers, accuses Scott Holsopple of breaching one-year noncompete and nonsolicitation clauses in several investment and employment agreements, and misappropriating confidential business information, when he jumped ship to work for Hightower. It also alleges tortious interference by Hightower.

Holsopple held equity in Focus Financial and a senior executive role at one of its operating subsidiaries, Focus said. Before leaving his role there ...