The Delaware Supreme Court issued a decision Jan. 29 that drew a distinct line between forfeiture for competition provisions and the restrictive employment covenants state courts have previously been able to scrutinize.
Delaware Supreme Court Justice Gary Traynor. Courtesy photo
Justice Gary F. Traynor’s opinion, which emphasizes Delaware’s strong deference to contract freedoms, remanded the case of former Cantor Fitzgerald partners to the Court of Chancery, dealing a blow to those who leave partnerships and engage in activity their partnership agreements classify as being competitive.
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