Court Grants Comerica a Preliminary Injunction Against Commercial Capital Bank and 24 Former Comerica Financial Services Division Employees
SAN JOSE, Calif.
Nov 7, 2005
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.
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.Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO
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SOURCE: 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/