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J.P. Morgan Securities filed a motion Tuesday to hold Christopher J. Lee, a former advisor, in contempt of court for allegedly violating a temporary restraining order that barred him from soliciting clients on behalf of Morgan Stanley, his new employer.
The motion, which was filed in the Supreme Court in the State of New York, was followed on Wednesday by the judge's order to show cause for contempt, requiring Lee to appear in court on Sept. 23 to explain his actions.
In the contempt motion, J.P. Morgan claims Lee emailed JPM clients after the TRO was in place, sending them a "blatant sales pitch, numerous Morgan Stanley Smith Barney marketing materials, and promises to 'follow up.' These clients were never 'his' clients to take; they are JPMorgan clients whom Lee serviced and/or learned of only through his employment."
"The record demonstrates Mr. Lee brazenly disregarded the Court's order and continued to engage in solicitation of JPMorgan's clients. We trust the Court will see the facts similarly and dispense consequences accordingly," said Pablo Rodriguez, spokesperson for J.P. Morgan Wealth Management.
#morgan #court #wealthmanagement #stanley
J.P. Morgan Securities filed a motion Tuesday to hold Christopher J. Lee, a former advisor, in contempt of court for allegedly violating a temporary restraining order that barred him from soliciting clients on behalf of Morgan Stanley, his new employer.
The motion, which was filed in the Supreme Court in the State of New York, was followed on Wednesday by the judge's order to show cause for contempt, requiring Lee to appear in court on Sept. 23 to explain his actions.
In the contempt motion, J.P. Morgan claims Lee emailed JPM clients after the TRO was in place, sending them a "blatant sales pitch, numerous Morgan Stanley Smith Barney marketing materials, and promises to 'follow up.' These clients were never 'his' clients to take; they are JPMorgan clients whom Lee serviced and/or learned of only through his employment."
"The record demonstrates Mr. Lee brazenly disregarded the Court's order and continued to engage in solicitation of JPMorgan's clients. We trust the Court will see the facts similarly and dispense consequences accordingly," said Pablo Rodriguez, spokesperson for J.P. Morgan Wealth Management.
#morgan #court #wealthmanagement #stanley
2 days ago
