First Community Bank alleges business conspiracy by former employees

By Whitney Brakken | Oct 29, 2013


PRINCETON - First Community Bank is suing over claims former employees breached the terms of their contracts.

First Community Bank and First Community Wealth Management Inc. filed a lawsuit Oct. 8 in the Circuit Court of Mercer County against Investment Planning Advisors LLC, Michael S. Patton, Kirsten N. Chmara, Matthew S. Martin, Greg Degray, Ronald L. Campbell and LPL Financial LLC, citing breach of fiduciary duties, breach of contract, aiding and abetting breach of contractual and fiduciary duties, tortious interference, business conspiracy, misappropriation of trade secrets, tortious interference with business relationships and conversion.

The plaintiffs say the defendants breached their fiduciary duty when they used the plaintiffs' customer lists, customer files, lists of prospective customers, mailing lists, strategies and other confidential information to open a competing brokerage firm.

Defendants Patton, Chmara, Martin, Degray and Campbell were former employees or contractors of the plaintiff and signed documents preventing them from using the plaintiffs' confidential information.

The plaintiffs are seeking an undetermined amount of relief, including injunctive relief. The plaintiffs are being represented by Charleston attorney Edward D. McDevitt of Bowles Rice LLP.

Circuit Court of Mercer County Case No. 13-C-406

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