Quickly perusing an unread, post-Christmas Wall Street Journal (yeah, I’m behind), I came across an article discussing a fight between Dynasty Financial Partners and Bank of America over client information that the former took from the latter.
In particular, this excerpt caught my eye:
A New York state judge granted a temporary restraining order against Dynasty, forcing them to return the client information.
–“New Battleground for Ex-Citi Rivals: The Rich”; (The Wall Street Journal, 12/27/2010)
Somebody needs to tell the Judge — no Solomon — that information doesn’t exactly have the same properties as more corporeal stolen goods.
P.S.: New York magnate Cornelius Vanderbilt had it right more than 150 years ago. Informed while abroad about a group of disloyal lieutenants, Vanderbilt wired the following telegram: “Gentlemen: You have undertaken to cheat me. I won’t sue you, for the law is too slow. I’ll ruin you.”