a. Was Waitemeyer violating his duty of loyalty when he solicited clients after leaving Merrill Lynch? b.

Question:

a. Was Waitemeyer violating his duty of loyalty when he solicited clients after leaving Merrill Lynch?
b. Some brokerage houses offer clients a reduced commission rate if they will stay with their old firm instead of following their when she leaves. Are there any limits to what the firm can do to keep clients?
c. Who owns the client lists?
Stockbroker Ronald Waitemeyer left Merrill Lynch to go to work for Dean Witter. Merrill Lynch sued to prevent him from taking his client list with him. Fortunately, for him, a heavy snowstorm on the day he left Merrill Lynch shut the Baltimore federal court for three days. This interlude gave him the opportunity to sign up his old clients before Merrill Lynch could obtain a restraining order against him.
Broker
A broker is someone or something that acts as an intermediary third party, managing transactions between two other entities. A broker is a person or company authorized to buy and sell stocks or other investments. They are the ones responsible for...