U.S. District Court for the Middle District of Tennessee Judge Kevin Sharp dismissed a complaint filed by Regions Bank against two former employees.
According to the complaint filed Sept. 15, the Birmingham, Ala.-based bank accused Doug Jones and Jeffrey East, two former financial consultants of the company who now work for Nashville, Tenn.-based Pinnacle Financial Partners Inc., of taking confidential customer information and using such information to ask customers to transfer their accounts to Pinnacle. Regions claimed the two committed breach of contract, misappropriation of trade secrets, conversion of confidential business information, breach of duty of loyalty, and unfair competition, and has sought injunctive relief through the court.
However, Regions Bank on Dec. 1 filed a notice of dismissal regarding the case and the court dismissed the complaint with prejudice.
Regions Bank is a unit of Regions Financial Corp.