Wells Fargo Advisors, LLC v. Olson

Filing 15

TEMPORARY RESTRAINING ORDER NUNC PRO TUNC - Plaintiff's motion for a temporary restraining order and preliminary injunction, filing 3 is granted to the extent it seeks a temporary restraining order. This temporary restraining order will expire at 11:59 p.m. on Friday, November 12, 2010, unless otherwise extended or vacated. Pursuant to Fed. R. Civ. P. 65(c), Wells Fargo Advisors, LLC, shall post a bond of $1,000.00 with the Clerk of the Court of the United States District Court for t he District of Nebraska. A hearing on whether a preliminary injunction should issue is scheduled for Friday, November 12, 2010, at 9 a.m. before the undersigned in Courtroom No. 5, Roman L. Hruska United States Courthouse, 111 South 18th Plaza, Omah a, Nebraska. Prior to the hearing on the preliminary injunction, the parties will file with the Court any affidavit testimony or other evidence supporting their respective positions regarding whether a preliminary injunction should issue within the deadlines set out in this order. The Court withholds ruling on whether to issue a preliminary injunction until after the preliminary injunction hearing. Ordered by Senior Judge Lyle E. Strom. (GJG)

-TDT Wells Fargo Advisors, LLC v. Olson

Doc. 15

IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF NEBRASKA WELLS FARGO ADVISORS, LLC, ) ) Plaintiff, ) ) v. ) ) LOY OLSON, ) ) Defendant. ) ______________________________)

8:10CV422

TEMPORARY RESTRAINING ORDER NUNC PRO TUNC

This matter is before the Court on plaintiff Wells Fargo Advisors, LLC's ("Wells Fargo") motion for temporary restraining order and preliminary injunction (Filing No. 3). Court held a hearing on November 1, 2010, during which the parties presented arguments. The Court finds Wells Fargo has (1) there The

made a preliminary showing sufficient to demonstrate:

is a threat of irreparable harm to Wells Fargo; (2) the harm to Wells Fargo outweighs the potential injury that a temporary restraining order would inflict on defendant Loy Olson; (3) it is probable Wells Fargo will succeed on the merits; and (4) the temporary restraining order will not be adverse to the public interest. See Dataphase Sys., Inc. v. C L Sys., Inc., 640 F.2d The Court finds the

109, 114 (8th Cir. 1981) (en banc).

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plaintiff's motion should be granted to the extent it seeks a temporary restraining order.1 IT IS ORDERED: 1) Plaintiff's motion for a temporary restraining Accordingly,

order and preliminary injunction is granted to the extent it seeks a temporary restraining order; 2) Olson and those in active concert or participation

with him are immediately enjoined from obtaining Confidential Information on Wells Fargo's clients without the clients' written authorization; 3) Olson shall provide a copy of any written

authorization to Wells Fargo prior to obtaining any Confidential Information; 4) "Confidential Information" means any trade secrets or non-public information concerning Wells Fargo's customers, methods, promotions, advertising or other methods of operation; "Confidential Information" does not include information to which Olson is authorized to access from Wells Fargo pursuant to the Protocol for Broker Recruiting;

The Court explicitly notes that these findings are merely preliminary findings for the purpose of evaluating whether to issue a temporary restraining order. The Court will undertake a de novo review of issues in the case after it conducts a full evidentiary hearing on whether to issue a preliminary injunction. -2-

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5)

With respect to any Confidential Information Olson

possesses without a client's written authorization, Olson shall preserve all hard copies, electronically stored information, diskettes, compact discs, and electronic storage devices in his possession, custody, and control; 6) This temporary restraining order will expire at

11:59 p.m. on Friday, November 12, 2010, unless otherwise extended or vacated; 7) Pursuant to Fed. R. Civ. P. 65(c), Wells Fargo

Advisors, LLC, shall post a bond of $1,000.00 with the Clerk of the Court of the United States District Court for the District of Nebraska; 8) A hearing on whether a preliminary injunction

should issue is scheduled for Friday, November 12, 2010, at 9 a.m. before the undersigned in Courtroom No. 5, Roman L. Hruska United States Courthouse, 111 South 18th Plaza, Omaha, Nebraska; 9) Prior to the hearing on the preliminary injunction,

the parties will file with the Court any affidavit testimony or other evidence supporting their respective positions regarding whether a preliminary injunction should issue, according to the following deadlines: a. Wells Fargo will file serve its supporting brief and evidence on or before November 8, 2010;

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b. Olson will file its opposition brief and evidence on or before November 10, 2010; and c. Wells Fargo may file a reply brief on or before November 11, 2010; and 10) The Court withholds ruling on whether to issue a

preliminary injunction until after the preliminary injunction hearing. DATED this 2nd day of November, 2010. BY THE COURT: /s/ Lyle E. Strom ____________________________ LYLE E. STROM, Senior Judge United States District Court

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