AMVESCAP today filed a lawsuit in U.S. District Court in New York against Deutsche Asset Management, dropping a complaint it filed earlier in the week in New York State Supreme Court, confirmed AMVESCAP spokesman Doug Kidd. The suit centers around the departure of four global partners who resigned from INVESCOs worldwide fixed-income business in Louisville, Ky., on Monday to take positions with Deutsche.
The new suit includes the four charges in the New York complaint, which alleged that Deutsche committed torturous interference, aiding and abetting breaches of fiduciary duties, misappropriation of trade secrets and unfair competition in hiring the four employees. The suit now claims Deutsche violated federal law in issuing news releases about the new hires that were implicitly false or misleading.
Deustche spokesman Ted Meyer said the company will contest the suit vigorously.