HOUSTON — A brokerage firm is suing one of its former financial advisers, Markos Pappas, citing alleged misappropriation of confidential information and trade secrets and attempts to steal clients.
Edward D. Jones & Co. L.P. filed a complaint on Feb. 24, in the Galveston County District Court against Pappas, alleging that the financial adviser breached the confidentiality and client non-solicitation covenant of their employment agreement.
According to the complaint, the plaintiff alleges that as a result of the defendant's acts, the brokerage has suffered and will continue to suffer irreparable damages unless the defendant is enjoined from further acts of unfair competition. The plaintiff holds Pappas responsible because the defendant allegedly began competing with plaintiff before he resigned and contacted the plaintiff's clients and urged them to move their accounts to his new brokerage firm.
The plaintiff requests a trial by jury and seeks damages in excess of $1 million, an order for the return of copies of the plaintiff's confidential information and records and other relief. He is represented by Carolyn Roch, Theresa Sandoval and Karen Morgan of Hughes Roch LLP in Houston.
Galveston County District Court Case number 2017-12742