We'll sue you, and you can sue us

By SCOTT BARANCIK
Published September 11, 2006

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No company wants employees to walk away with clients in tow. But for Morgan Stanley's Tampa office, what goes around apparently comes around. In March, Morgan filed a breach of contract suit against former executive David Barcza. It alleged Barcza copied confidential information about Morgan clients and solicited them to transfer funds to competitor Oppenheimer & Co. Last week, Merrill Lynch sued ex-financial adviser Jeffrey D. Reynolds, alleging he was "secretly attempting to divert" wealthy customers to Morgan. Such allegations are not uncommon. Morgan gave the court nearly a dozen such orders issued in Florida cases last year.