1. Case Name, Citation, and Court
Raymond James & Associates, Inc. v. Leonard & Company, and Ronald Boerjan
411 F. Supp. 2d. 689 (2006)
United States District Court for the Eastern District of Michigan, Southern Division

2. Summary of the Key Facts A. Ronald Boerjan resigned from Raymond James & Associates, Inc. (RJA) on December 23, 2005. B. Boerjan began working with RJA competitor, Leonard & Company. C. Boerjan created his own “posting pages” (book of business) so that he could prepare account transfer forms. The “posting pages” are industry standard and contain the cient’s personal information. D. Boerjan avers that RJA’s CEO told him and others at an October, 2005 meeting that “you own your book” and that they were free to take their book of business with them when they left RJA. E. RJA accused Boerjan of taking trade secrets of their company to the competitor company, to solicit clients.

3. The Issue
Can Raymond James & Associates, Inc. succeed in filing a temporary restraining order and a preliminary injunction towards Ronald Boerjan for taking “trade secrets” (client lists and information) to the competitor company, Leonard & Company?

4. Holding
No.

5. Summary of the Court’s Reasoning A. The Court for the Eastern District of Michigan, Southern Division found that while working for RJA, Boerjan did not sign any non-solicitation or non-compete agreement. He had every right to take the information he had recorded in his “book of business” of clients he had helped to his new employer, Leonard & Company. Boerjan’s personal book is his property. B. Although it is clear that Boerjan was making preparations to compete, he did not take any action with the previous clients until he had resigned from RJA. He resigned on December 23, 2005 and a client received the solicitation packet on December 24, post marked December 23. He did not take action until after he resigned.