Cent. Trust & Inv. Co. v. SignalPoint Asset Mgmt., LLC

After Central Trust and Investment Company purchased Springfield Trust & Investment Company (STC), Central Trust filed an action against SignalPoint Asset Management, LLC, a registered investment advisor, for affiliating with STC’s ex-employee, who had acquired STC’s client list and had become an independent advisor representative of SignalPoint. The circuit court entered summary judgment in favor of SignalPoint on its claims for misappropriation of trade secrets, tortious interference with business relations, and civil conspiracy. The Supreme Court affirmed, holding (1) Central Trust did not demonstrate that a genuine issue of material fact existed as to whether SignalPoint “misappropriated” Central Trust’s client list as that term is defined by the Missouri Uniform Trade Secrets Act; (2) this failure also justified the grant of summary judgment against Central Trust’s claim of tortious interference with business relations; and (3) Central Trust’s civil conspiracy claim was moot. View "Cent. Trust & Inv. Co. v. SignalPoint Asset Mgmt., LLC" on Justia Law