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Citizens Securities denied 'status quo' relief in US trade secret case pending FINRA arbitration

By Melissa Ritti ( December 2, 2024, 15:33 GMT | Insight) -- The public's interest in choosing their own financial broker must be balanced against the public interest in enforcing valid employment contracts, a US magistrate judge ruled last week. In a trade secret case that highlights the challenges of obtaining a temporary restraining order in advance of Financial Industry Regulatory Authority, or FINRA, arbitration, the relief requested by Citizens Securities against Armin Hrncic was denied but discovery will be expedited.A request by broker-dealer Citizens Securities for a temporary restraining order, or TRO, and preliminary injunction, or PI, which would maintain the status quo with financial advisor Armin Hrncic while arbitration proceeds before the Financial Industry Regulatory Authority, or FINRA, was denied last week....

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