Fidelity Brokerage Services LLC v. Savell

Filing 16

STIPULATION and ORDER 4 for Temporary Restraining Order signed by Judge Morrison C. England, Jr. on 6/19/2012. Defendant Eric Savell is enjoined from committing, either directly or indirectly, and whether acting alone or in concert with others, pending arbitration before FINRA, or until further Order of Court. (Marciel, M)

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M. Taylor Florence (SBN 159695)
[e-mail]
Krista J. Dunzweiler (SBN 227384)
[e-mail]
LOCKE LORD LLP
500 Capitol Mall, Suite 1800
Sacramento, CA 95814
Phone: [phone]
Fax: [phone]
Jennifer A. Kenedy (admitted pro hac vice)
[e-mail]
LOCKE LORD LLP
111 South Wacker Drive
Chicago, IL 60606-4410
Phone: [phone]
Fax: [phone]
Attorneys for Plaintiff
FIDELITY BROKERAGE SERVICES LLC

Locke Lord LLP

500 Capitol Mall, Suite 1800
Sacramento, CA 95814

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Jeffrey K. Compton (SBN 142969)
[e-mail]
Oriet Cohen-Supple (SBN 206781)
[e-mail]
MARKUN ZUSMAN & COMPTON LLP
465 California Street, 5th Floor
San Francisco, CA 94104
Telephone: [phone]
Facsimile: [phone]

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Attorneys for Defendant Eric Savell

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UNITED STATES DISTRICT COURT

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EASTERN DISTRICT OF CALIFORNIA

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SACRAMENTO DIVISION

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FIDELITY BROKERAGE SERVICES LLC, )
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a limited liability company,
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Plaintiff,
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v.
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ERIC SAVELL, an individual,
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Defendant.
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CASE NO. 2:12-cv-01608-MCE-CKD
STIPULATION AND TEMPORARY
RESTRAINING ORDER
Date: June 18, 2012
Time: 3:00pm

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STIPULATION AND TEMPORARY RESTRAINING ORDER

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Plaintiff Fidelity Brokerage Services, LLC’s (“Fidelity”), through its counsel, M. Taylor

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Florence, and Defendant Eric Savell (“Savell”), through his counsel of record, Jeffrey K. Compton

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hereby agree and stipulate as follows:

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WHEREAS, on June 14, 2012 the Plaintiff Fidelity Brokerage Services, LLC’S (“Fidelity”)

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filed a Complaint and Ex Parte Application for a Temporary Restraining Order (Without Security)

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and Order to Show Cause Re: Preliminary Injunction (“TRO”) in the above captioned court against

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Defendant Eric Savell (“Savell”), said application being set for hearing on June 19, 2012 ; and

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WHEREAS, Fidelity and Savell have agreed, without Savell admitting any wrongdoing, and
without the parties waiving any claim, argument or defense which could be raised at arbitration, to
the entry of a temporary restraining order, as follows:

Locke Lord LLP

500 Capitol Mall, Suite 1800
Sacramento, CA 95814

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IT IS HEREBY STIPULATED AND AGREED THAT:

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A.

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Savell is enjoined from committing, either directly or indirectly, and whether acting
alone or in concert with others, pending arbitration before FINRA, or until further
order of this Court, the following acts:

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(i)

soliciting, whether directly or indirectly, and whether alone or in concert with
others, any business from any Fidelity customer whom Savell served or whose
name became known to Savell while in the employ of Fidelity, including,
without limitation, all customers Savell learned of through his employment
with Fidelity;

(ii)

using, disclosing, transmitting and continuing possess for any purpose,
including solicitation of customers, the information contained in the records of
Fidelity, including, but not limited to, the names, addresses, telephone
numbers, email addresses and confidential financial information of the
customers Savell learned of through his employment with Fidelity.

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IT IS ALSO HEREBY AGREED THAT:

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(iii)

Savell, and anyone acting in concert with him, including any agent, employee,
officer or representative of Savell’s new employer, shall return to Fidelity any
and all records, documents and/or information pertaining to Fidelity
customers, whether in electronic, handwritten or any other form, if any, within
five (5) days of entry of this order, including any and all copies. This
requirement includes all records or documents, in any form, created by Savell,
or anyone acting in concert with them, from documents or information
received or removed from Fidelity by Savell; and

(iv)

Savell shall file a sworn declaration attesting that he has returned to Fidelity
all such information in any form subject to this Court’s Order within seven (7)
days from the entry of this Court’s Order OR alternatively, within the same
time period, Savell shall file a sworn declaration that, as of June 14, 2012, he
did not have in his possession any Fidelity customer information including

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STIPULATION AND TEMPORARY RESTRAINING ORDER

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names, addresses, telephone numbers, email addresses or other information
concerning Fidelity customers Savell learned of through his employment at
Fidelity, in document, handwritten, electronic or any other format. To the
extent the format of some information is electronic, Savell shall delete that
information and, prior to deleting, Savell, through counsel, shall provide a
copy of all information he is deleting to Fidelity’s outside counsel and such
information shall not be disclosed to anyone other than counsel for Fidelity.
The declaration shall attest that, in accordance with this paragraph, all such
information has been deleted from all sources and that copies of all such
information has been provided.

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(v)

The requirements set forth in (iii) and (iv) exclude existing Linsco Private
Ledger (LPL) customers; and

(vi)

To the extent that any correspondence is required to be kept by LPL to comply
with FINRA or SEC “books and records” regulatory requirements, any future
access to such records, addresses, telephone numbers, email addresses shall be
restricted solely to compliance department staff or legal counsel and shall not
be used by Savell or LPL for any direct or indirect solicitation of any kind.

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Locke Lord LLP

500 Capitol Mall, Suite 1800
Sacramento, CA 95814

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B.

Pursuant to sections 3 and 4 of the Federal Arbitration Act, 9 U.S.C. §§3-4, the
parties are directed to proceed to arbitration pursuant to the FINRA Code of
Arbitration Procedure; and

C.

This Order shall remain in full force and effect until further order by the FINRA
arbitration panel.

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IT IS SO STIPULATED
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Dated: June 18, 2012

LOCKE LORD LLP
/s/ M. Taylor Florence
By:
M. Taylor Florence
Attorney for Plaintiff
FIDELITY BROKERAGE SERVICES LLC

Dated: June 18, 2012

MARKUN ZUSMAN & COMPTON LLP
/s/ Jeffrey K. Compton
By:
Jeffrey K. Compton
Attorney for Defendant
ERIC SAVELL

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IT IS SO ORDERED.
Dated: June 19, 2012
__________________________________
MORRISON C. ENGLAND, JR
UNITED STATES DISTRICT JUDGE

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STIPULATION AND TEMPORARY RESTRAINING ORDER