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SALVANO v. MERRILL LYNCH

85 N.Y.2d 173 (1995)

647 N.E.2d 1298

623 N.Y.S.2d 790

In the Matter of Larry Salvano et al., Respondents, v. Merrill Lynch, Pierce, Fenner & Smith, Inc., Appellant.

Court of Appeals of the State of New York.

Decided February 21, 1995.

Attorney(s) appearing for the Case

Rubin & Associates (Marsha L. Levick, Gregory S. Rubin and Christopher P. Stief, of the Pennsylvania Bar, admitted pro hac vice, of counsel), and Sullivan & Marshall, New York City (William T. Marshall, Jr., of counsel), for appellant.

Smith Campbell & Paduano, New York City (Thomas M. Campbell of counsel), for respondents.

Judges TITONE, BELLACOSA, SMITH and CIPARICK concur with Judge SIMONS; Chief Judge KAYE dissents in a separate opinion; Judge LEVINE taking no part.

SIMONS, J.

Petitioners Salvano and Coon were formerly employed as account executives in respondent Merrill Lynch's Northbrook, Illinois, office. Petitioner Tate was similarly employed in Louisville, Kentucky. On October 30, 1992, each abruptly resigned his position with Merrill Lynch and began working with Prudential Bache, one of Merrill Lynch's competitors. On November...

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