Four former executives with the Cresset Administrative Services Corp. were accused of violating their contracts and nondisclosure agreements in a complaint filed in Illinois federal court Wednesday. Cresset alleges the former employees violated their employment contracts when they quit en masse via email and brought client information to their new employer.
Takeaway: Employment contracts and covenants have become a contested topic in the legal industry as different states decide how to handle noncompete agreements and the Federal Trade Commission’s comprehensive ban on new noncompete agreements remains in legal limbo.