J.P. Morgan Seeks Contempt Charges Against Ex-Advisor for Alleged TRO Violation
J.P. Morgan Securities has filed a contempt motion against Christopher J. Lee, a former advisor who now works at Morgan Stanley, alleging he violated a temporary restraining order (TRO) by soliciting clients from his previous employer. The firm claims that after the TRO was issued to prevent him and another ex-advisor, Joseph Minaudo, from contacting their prior clients, Lee sent emails containing sales pitches and marketing materials for Morgan Stanley Smith Barney to JPMorgan clients he had not originally managed. The court has ordered Lee to appear on September 23 to explain his actions. According to an affidavit by Richard Weinhaus of J.P. Morgan, the affected clients were pre-existing JPMorgan or Chase clients assigned during Lee’s employment with the firm. The advisors reportedly moved $175 million in assets before the TRO and over $375 million afterward.
Topics: Christopher J. Lee employment law J.P. Morgan Morgan Stanley temporary restraining order (TRO)