JP Morgan Seeks Contempt Charge Against Former Advisor for Client Solicitation

J.P. Morgan Securities is seeking a contempt charge against former advisor Christopher J. Lee for allegedly violating a temporary restraining order that barred him from soliciting clients on behalf of Morgan Stanley, his new employer.

The motion, filed in the Supreme Court in New York, claims Lee emailed JPMorgan clients after the TRO was in place, sending them marketing materials and promises to 'follow up.' These clients were never 'his' clients to take; they are JPMorgan clients whom Lee serviced through his employment.

J.P. Morgan claims that Lee brazenly disregarded the court's order and continued to engage in solicitation of JPMorgan's clients, managing about $1.85 billion in assets under management when they left the bank.