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Saturday, November 2, 2024

Private Wealth Advisors allege former principal, employee misappropriated trade secrets for competing company

Federal Court
Usdcpittsburgh

PITTSBURGH – A provider of fee-based wealth management services with offices in Greensburg and Pittsburgh alleges a former employee and former principal misappropriated trade secrets to solicit clients on their new company's behalf

Private Wealth Advisors Inc. filed a complaint on Sept. 18 in the U.S. District Court for the Western District of Pennsylvania against Stuart M. Miller, Daniel P. McCurry and Miller McCurry LLC alleging breach of contract, tortious interference with contract, breach of fiduciary duty, civil conspiracy and other counts.

According to the complaint, Miller is a former principal and board member of the plaintiff's and McCurry is a former employee.

The suit states that Miller was responsible for personal financial planning and asset management of the plaintiff's most-valuable clients. McCurry allegedly was in charge of providing personalized wealth management services to established clients of the plaintiff. In the defendants' roles, the plaintiff alleges they required access to the plaintiff's client information as well as assets, strategies and other confidential information. 

The plaintiff alleges that the defendants are in violation of the express provisions of their employment agreements and have breached contract and have founded a company, Miller McCurry, to unlawfully compete with the plaintiff.

The plaintiff is seeking actual and compensatory damages, attorney fees and court costs. The plaintiff is represented by Eric J. McLaughlin of Buchanan Ingersoll & Rooney PC in Pittsburgh.

U.S. District Court for the Western District of Pennsylvania case number 2:19-cv-01198

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