POST v. MERRILL LYNCH


48 N.Y.2d 84 (1979)

Jack E. Post et al., Appellants, v. Merrill Lynch, Pierce, Fenner & Smith, Inc., et al., Respondents.

Court of Appeals of the State of New York.

Decided October 18, 1979.


Attorney(s) appearing for the Case

Benedict Ginsberg and Milton B. Franklin for appellants.

Roger J. Hawke and Thomas J. Mullaney for respondents.

Chief Judge COOKE and Judges JASEN, GABRIELLI, JONES, FUCHSBERG and MEYER concur.


WACHTLER, J.

The narrow issue presented by this appeal from a grant of summary judgment for the defendant is the efficacy of a private pension plan provision permitting the employer to forfeit pension benefits earned by an employee who competes with the employer after being involuntarily discharged.

We begin with the premise that "powerful considerations of public policy * * * militate against sanctioning...

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