A Financial Industry Regulatory Authority arbitration panel awarded Dallas-based Esposito Securities Esposito Securities Latest from The Business Journals Follow this company LLC more than $1.4 million in damages and attorney fees in a recruiting violation case.

The arbitration complaint alleged that WFG Investments WFG Investments Latest from The Business Journals Birdwell, Marc Climate combine in explosion-proof merger Follow this company Inc. of Dallas recruited Esposito employees in violation of a contract between Esposito and WFG. The contract was entered into while Esposito was an independent broker for WFG, and induced Esposito employees to breach their contracts with Esposito.

Esposito’s claims included breach of contract, raiding and tortious interference, according to a news release issued by Esposito Securities.

“We are very happy that the FINRA arbitration process concluded in our favor and that we can move forward and put this matter behind us,” said Mark Esposito, president of Esposito Securities. “We are gratified that our efforts to protect the firm and its clients were successful.

“The arbitrators worked through days of testimony, and a mountain of emails and other evidence to reach a fair and just resolution,” said Deitsch-Perez, a partner with Lackey Hershman LLP of Dallas.

Esposito added: “The panel’s award against WFG sends a clear message that raiding will not be tolerated.”

A Financial Industry Regulatory Authority arbitration panel awarded Dallas-based Esposito Securities Esposito Securities Latest from The Business Journals Follow this company LLC more than $1.4 million in damages and attorney fees in a recruiting violation case.

The arbitration complaint alleged that WFG Investments WFG Investments Latest from The Business Journals Birdwell, Marc Climate combine in explosion-proof merger Follow this company Inc. of Dallas recruited Esposito employees in violation of a contract between Esposito and WFG. The contract was entered into while Esposito was an independent broker for WFG, and induced Esposito employees to breach their contracts with Esposito.

Esposito’s claims included breach of contract, raiding and tortious interference, according to a news release issued by Esposito Securities.

“We are very happy that the FINRA arbitration process concluded in our favor and that we can move forward and put this matter behind us,” said Mark Esposito, president of Esposito Securities. “We are gratified that our efforts to protect the firm and its clients were successful.

“The arbitrators worked through days of testimony, and a mountain of emails and other evidence to reach a fair and just resolution,” said Deitsch-Perez, a partner with Lackey Hershman LLP of Dallas.

Esposito added: “The panel’s award against WFG sends a clear message that raiding will not be tolerated.”

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