Court Grants Comerica a Preliminary Injunction Against Commercial Capital Bank and 24 Former Comerica Financial Services Divisio
08 November 2005 - 7:19AM
PR Newswire (US)
SAN JOSE, Calif., Nov. 7 /PRNewswire-FirstCall/ -- Comerica
Incorporated (NYSE:CMA) announced that the San Francisco Superior
Court today entered a preliminary injunction against Commercial
Capital Bancorp Inc. (NASDAQ:CCBI), its banking subsidiary
Commercial Capital Bank, and 24 former Comerica employees who had
joined Commercial Capital from Comerica's Western Market- based
Financial Services Division. (Logo:
http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO ) The
preliminary injunction prohibits Commercial Capital Bank,
Commercial Capital Bancorp and the 24 former Comerica employees
from using, destroying, concealing and/or disclosing any of
Comerica Bank's confidential, proprietary or trade secret
information, and from soliciting Comerica's customers, vendors and
employees, during the period that Comerica's lawsuit against such
parties is pending. Today's injunction also orders the former
Comerica employees, Commercial Capital Bancorp Inc. and Commercial
Capital Bank to return the proprietary documents and information
that they had taken from Comerica. Comerica filed suit against
Commercial Capital and the 24 former employees on July 29, 2005,
and obtained a temporary restraining order against them August 1,
2005. In the lawsuit, Comerica is seeking exemplary and punitive
damages against Commercial Capital and the 24 former Comerica
employees, alleging fraud and malicious conduct in the
misappropriation of trade secrets, unfair competition, and
conspiracy, all in violation of Comerica's Code of Ethics, and
California state laws. Peter Bertrand of Buchalter Nemer, P.C., San
Francisco, represents Comerica in the matter. The Western Market of
Comerica Bank includes 54 branch offices in key California markets,
including San Francisco and the Peninsula, San Jose, Los Angeles,
Orange County, San Diego, Fresno, Sacramento, Santa Cruz/Monterey,
and Walnut Creek, with a regional office in Phoenix, Ariz. The
bank's Western market generated 35 percent of the income for
Comerica Incorporated, on $14.2 billion in assets at September 30,
2005. Comerica Bank is a subsidiary of Comerica Incorporated
(NYSE:CMA), a financial services company headquarter in Detroit,
strategically aligned into the Business Bank, Small Business &
Personal Financial Services, and Wealth & Institutional
Management. Comerica focuses on relationships, and helping
businesses and people be successful. Comerica Inc. reported total
assets of $54.3 billion at September 30, 2005. To receive e-mail
alerts of breaking Comerica news, go to
http://www.comerica.com/newsalerts.
http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO DATASOURCE:
Comerica Bank CONTACT: Barry Holtzclaw, +1-408-556-5111, and Wayne
Mielke, +1-313-222-4732, both of Comerica Bank Web site:
http://www.comerica.com/
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