“Can you leave a company, and take employees with you?”
In InsureOne, the Illinois Appellate Court for the First District upheld the trial court’s award of $7,670,210 in damages for alleged violations of non-compete and non-solicitation agreements.
Plaintiffs InsureOne Independent Insurance Agency, American Agencies General Agency, Inc., and Affirmative Insurance Holdings, Inc. purchased the assets of several insurance companies owned or controlled by James P. Hallberg, who covenanted not to compete with the Plaintiffs or to solicit any of their employees or customers for a period of time to be determined based on the circumstances of his termination. Hallberg was to run the company as its president, subject to the non-compete and non-solicitation covenants. The Plaintiffs retained several of Hallberg’s former employees, including his nephew, who also signed a covenant not to compete with, or solicit employees of the company for twelve months following termination. Continue reading ›