Commercial Capital Bancorp, Inc. Announces Filing of Notice of Appeal with Respect to Comerica Preliminary Injunction
08 Noviembre 2005 - 8:00AM
Business Wire
Commercial Capital Bancorp, Inc. (the "Company" or "CCBI"),
(Nasdaq:CCBI), announced today that it has filed a Notice of Appeal
with respect to the preliminary injunction granted on November 7,
2005 by the Superior Court of California, County of San Francisco,
in favor of Comerica Bank ("Comerica") against CCBI, its banking
subsidiary, Commercial Capital Bank (the "Bank"), and 24 former
employees of Comerica who joined the Bank from Comerica's Western
Market-based Financial Services Division. The preliminary
injunction prohibits CCBI, the Bank, and the former Comerica
employees from using, destroying, concealing and/or disclosing any
of Comerica Bank's confidential, proprietary or trade secret
information, and from soliciting certain of Comerica's customers,
vendors and employees, during the period that Comerica's lawsuit
against such parties is pending. The preliminary injunction also
orders the former Comerica employees, CCBI and the Bank to return
any proprietary documents and information that the former Comerica
employees are alleged to have taken from Comerica. Comerica filed
suit against CCBI 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 CCBI, the Bank and the former Comerica employees, alleging
violations of Comerica's internal policies and California state
laws. In announcing the filing of the notice of appeal, Stephen H.
Gordon, CCBI's Chairman and Chief Executive Officer, stated, "We
are disappointed with the Court's ruling, but it does not change
the fact that we believe that Comerica's lawsuit against CCBI is
without merit and that we will vigorously defend against the
lawsuit." Gordon continued, "As we have stated before, we are a
company built upon a strong foundation of both corporate and
personal ethics, morals and values. In conducting our business, we
do not need to use, nor want to use, another company's
confidential, proprietary or trade secret information regarding its
customers, employees or vendors." Commercial Capital Bancorp, Inc.
is a diversified financial services company, with $5.2 billion of
total assets, at September 30, 2005. The Company provides
depository and lending products and services under the Commercial
Capital Bank brand name, and provides 1031 exchange services to
income property investors nationwide under the TIMCOR Exchange
Corporation and North American Exchange Company brand names.
Commercial Capital Bancorp (NASDAQ:CCBI)
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