Wealth manager Towry has agreed to pay the legal costs of rival Raymond James and seven advisers after defeat in the High Court.
The company has agreed to pay costs totaling £930,936 plus VAT - bill of £1.2m. Towry today lost its High Court case against the seven former Edward Jones advisers and their new employer, Raymond James. It had accused them of breaking non-solicitation clauses in their contracts by contacting their former clients after Towry acquired Edward Jones (EJ) in 2009. The seven EJ advisers left Towry shortly afterward. But the Honourable Mrs Justice Cox dismissed the £6m claim by Towry. "Having regard to the whole evidence in this case, the allegations against Raymond James do not wit...
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