J.P. Morgan Securities LLC v. Michael
Filing
15
STIPULATED PRELIMINARY INJUNCTION ORDER, Signed by District Judge Judith E. Levy. (WBar)
Case 5:23-cv-10062-JEL-EAS ECF No. 15, PageID.321 Filed 01/18/23 Page 1 of 5
UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF MICHIGAN
SOUTHERN DIVISION
J.P. MORGAN SECURITIES LLC,
Plaintiff,
v.
JOSEPH A. MICHAEL,
Defendant.
)
)
) Case No. 23-cv-10062-JEL-EAS
) Honorable Judith E. Levy
)
)
)
)
)
STIPULATED PRELIMINARY INJUNCTION
IT IS HEREBY STIPULATED AND AGREED by and between the
undersigned attorneys of record for Plaintiff, J.P. Morgan Securities LLC (“JPMorgan”
or “Plaintiff”) and Defendant, Joseph A. Michael (“Defendant”), as follows:
1.
Defendant, and all those acting in concert with him, are temporarily
enjoined and restrained, directly or indirectly, from:
(a) soliciting, attempting to solicit, inducing to leave or
attempting to induce to leave any JPMorgan client serviced
by Defendant at JPMorgan or whose name became known
to Defendant by virtue of his employment with JPMorgan
(or any of its predecessors in interest); and
(b) using, disclosing or transmitting for any purpose
JPMorgan’s documents, materials and/or confidential and
proprietary information pertaining to JPMorgan, JPMorgan’s
employees, and/or JPMorgan’s clients.
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2.
Notwithstanding the foregoing, nothing contained in this Stipulated
Preliminary Injunction shall prohibit Defendant from making an announcement (to
the extent not previously made) – whether by mail, email or phone – to any JPMorgan
client serviced by Defendant at JPMorgan, informing them that Defendant is no
longer employed by JPMorgan and providing them with his new contact information
at Morgan Stanley Smith Barney LLC (“Morgan Stanley”), or from responding to
client-initiated inquiries or requests from clients to transfer their accounts.
3.
Within five business days of the execution by the parties of this
Stipulated Preliminary Injunction, Defendant shall return to Plaintiff (through its
undersigned attorneys, at the address identified below) all records, documents and/or
information in whatever form (whether original, copied, computerized, electronically
stored or handwritten), pertaining to JPMorgan’s clients, employees and business
in the possession, custody and/or control of Defendant that he obtained during his
employment with JPMorgan (or its predecessors in interest), excluding documents
and/or information (a) received by Defendant after he became employed by Morgan
Stanley from JPMorgan’s clients, or (b) obtained from publicly available sources
after he became employed by Morgan Stanley (which were not made publicly
available through any conduct by Defendant, and without using any JPMorgan
records, documents, and/or information in whatever form, whether original, copied,
computerized, electronically stored or handwritten).
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4.
This Stipulated Preliminary Injunction shall continue in full force and
effect until such time as a FINRA Dispute Resolution arbitration panel rules on
Plaintiff’s request for permanent injunctive relief (either after a hearing on the
merits or pursuant to an agreement between the parties).
5.
Plaintiff and Defendant further stipulate that the parties waive their
right to a hearing on Plaintiff’s motion for a temporary restraining order or a
preliminary injunction, and that this Court need take no further action on Plaintiff’s
request for a temporary restraining order or a preliminary injunction, or for expedited
discovery. In light of the arbitration agreement binding the parties, the Court hereby
stays this matter pending a determination of the merits by a FINRA arbitration
panel.
6.
Plaintiff and Defendant further stipulate that by entering into this
Stipulated Preliminary Injunction, and by consenting to this Stipulated Preliminary
Injunction being “So Ordered” by the Court, Defendant does not agree to or admit
any liability or acknowledge any wrongdoing, nor shall entering into such
Stipulated Preliminary Injunction be deemed to be an admission of any liability or
acknowledgement of any wrongdoing by any party. Plaintiff and Defendant further
stipulate that the Court, by “So Ordering” this Stipulated Preliminary Injunction,
does not make any findings of fact or any determination as to liability, and further
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Case 5:23-cv-10062-JEL-EAS ECF No. 15, PageID.324 Filed 01/18/23 Page 4 of 5
it is not making any findings as to whether Defendant violated his agreements with
Plaintiff.
7.
This Stipulated Preliminary Injunction is binding on Defendant, his
agents, and those in active concert or participation with him who receive actual
notice of this order.
8.
This Stipulated Preliminary Injunction is not a decision on the ultimate
merits of this dispute and is without prejudice to the rights, remedies, claims, or
defenses of any party hereto, and no party hereto shall argue in the FINRA arbitration
that this Stipulated Preliminary Injunction precludes the making of any substantive
argument in the FINRA arbitration.
9.
This Stipulated Preliminary Injunction shall not prevent the FINRA
arbitration panel from issuing any order on the appropriateness of permanent
injunctive relief after a hearing on the merits or by agreement of the parties.
SO ORDERED.
Date: January 18, 2023
s/Judith E. Levy
JUDITH E. LEVY
United States District Judge
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STIPULATED AND AGREED TO ON BEHALF OF THE PARTIES
ABBOTT NICHOLSON, P.C.
MIKA MEYERS PLC
By: /s/ Timothy J. Kramer
Timothy J. Kramer (P36223)
1900 W. Big Beaver Rd., Ste. 203
Troy, Michigan 48084
(313) 566-2500
tjkramer@abbottnicholson.com
By: /s/ with consent Nathaniel R. Wolf
Nathaniel R. Wolf (P52017)
900 Monroe Avenue NW
Grand Rapids, Michigan 49503
(616) 632-8046
nwolf@mikameyers.com
PADUANO & WEINTRAUB LLP
Leonard Weintraub (NY Bar 2161479)
1251 Avenue of the Americas
9th Floor
New York, New York 10020
(212) 785-9100
lw@pwlawyers.com
HENNEMAN RAU KIRKLIN &
SMITH, LLP
Matthew B. Henneman
(TX Bar 00790865)
815 Walker Street, Suite 1440
Houston, Texas 77002
(713) 955-6030
mhenneman@hrkslaw.com
Attorneys for Plaintiff
J.P. Morgan Securities LLC
Attorneys for Defendant
Joseph A. Michael
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