Civil Litigation,
Banking
Oct. 22, 2021
Injunction against startup bank lifted after judge gets new details
In dissolving his previous order, U.S. District Judge William H. Orrick wrote that had East West Bank “disclosed the arbitration agreements and the published patent applications I would not have issued the preliminary injunction in its current form, if at all.”
After new details came to light, a U.S. judge lifted a preliminary injunction against a startup financial technology bank accused of trade secrets theft just three months after issuing the order.
U.S. District Judge William H. Orrick ordered the parties into arbitration after an arbitration agreement came to light between Sukeert Shanker, founder of Aeldra Financial Inc., and his former employer, East West Bank.
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