Federal judge Holly L. Teeter dismissed Edelman Financial Engines\u2019 trade secrets lawsuit against Mariner, alleging the firm poached advisors and clients.\u00a0<\/p>\n
The U.S. District Court for the District of Kansas ruled that Edelman failed to establish that:\u00a0<\/p>\n
The partial client lists taken by 10 former Edelman financial planners to Mariner Wealth Advisors qualified as trade secrets or were improperly acquired under the Defend Trade Secrets Act; and\/or<\/p>\n
That Mariner advised its new hires to improperly bring client data, or that the planners brought more than the mere memory of their clients\u2019 names (which does not rise to the level of a protected trade secret).<\/p>\n
As such, the court determined that no reasonable jury could rule in Edelman\u2019s favor on the trade secrets claims and granted Mariner\u2019s motion for summary judgment.<\/p>\n
In her decision, Judge Teeter also admonishes Edelman\u2019s legal team for using improper briefing tactics, ranging from failing to provide citations to misrepresenting or even modifying evidence to better suit Edelman\u2019s narrative. The decision explains that \u201cNeither problem is a one-off; they appear throughout Edelman\u2019s briefing, to the point that the court cannot excuse them.\u201d<\/p>\n