A federal district court judge on Wednesday agreed to permanently issue a temporary injunction issued in poaching litigation filed by AssuredPartners Inc. against a competitor and five outgoing employees.
Judge Robert C. Jones of the U.S. District Court in Reno had issued a temporary injunction in AssuredPartners of Nevada LLC vs. L / P Insurance Services LLC et al. in October.
The dispute has been settled for an undisclosed amount, according to court papers.
The injunction issued on Wednesday permanently obliges Reno, Nevada-based L / P Insurance Services and the five retired employees to disclose any of AssuredPartner's confidential information, use it for any purpose, contact an agreed list of restricted customers and cover period to and with September 30, 2023. Exceptions include cases where brokers have joint clients. employ "most, if not all" of AssuredPartner's Reno employees.
The five former AssuredPartners employees accounted for 75% of Reno's sales force and they "managed and influenced" about 80% of its revenue, it says in court papers
Following their departure, 27 AssuredPartners clients moved to L / P Insurance Services in seven days and the "irreparable damage" they caused first ceased.
A spokesman for AssuredPartners said the company was "extremely satisfied" with the permanent injunction. The statement said the settlement was for a seven-figure amount.
L / P Insurance Services' lawyers did not respond to requests for comment.