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THE WORST BUSINESS CEOS IN AMERICA
Mired in financial and legal trouble, Talos Partners CEO, Robert V. Brazell tops our list
NEWS TO HELP INVESTORS AVOID TAKING A BEATING
TALOS PARTNERS AND ROBERT V. BRAZELL SUED FOR STEALING TRADE SECRETS FROM AIP
MANHATTAN (CN) - A former managing partner of American Institutional Partners masterminded a scheme to steal the company's trade secrets from its owner, Pelican Equity claims in Federal Court.
Pelican Equity, which owns AIP's rights, says Robert Brazell partnered with Stephen Norris to form Talos Partners in order to steal AIP's confidential business information for their own gain. At the time, Brazell was a managing partner of AIP, a stock loan business. The complaint paints a colorful picture of him, quoting his 2008 email to AIP founder Mark Robbins, in which he said he "humped the Prudential brochure" because he was so excited to be a partner in AIP.
Brazell used the company's computers to copy a Web site that AIP was developing, which he used for Talos, the lawsuit states. Pelican claims the copying was so sloppy that early forms of Talos' site still referred to AIP.
Pelican claims that former AIP counsel Bryan Cave breached its duty to its client by helping Brazell set up Talos while he was still a managing partner at American Institutional. Bryan Cave asked Robbins to sign a waiver and release letter, but Robbins allegedly refused. Pelican claims Bryan Cave not only set up Talos' certificate of formation, but also charged AIP for the work.
A spokesman for Bryan Cave declined to comment.
Pelican seeks damages, a ruling barring the defendants from using AIP's confidential information and an order requiring them to return it.
Pelican is represented by Altman. Rob Brazell, Norris, Talos Partners, Rama Ramachandran, Darl McBride and Bryan Cave are all listed as defendants.
(The above is an excerpt from CourthouseNewService.com)
Forbes says a CEO should above all protect investor share value
Robert V. Brazell tops our list of small business CEOs that fails time and again to provide returns, while living high off investor's money. Now mired in legal and financial trouble, the truth about Rob Brazell is finally reaching the market where potential investors can make better and more informed decisions before putting their money at risk.
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