Cavner ordered to pay sanctions

Springfield Business Journal continues to cover the ongoing legal battle between The Signature Bank financial adviser Nadia Cavner and her former employer U.S. Bancorp Investments Inc. Below are links to court documents, including U.S. Bancorp’s allegations that Cavner orchestrated a photocopying scheme at team members’ homes, Cavner’s court statements and the judge’s order that Cavner pay sanctions for misrepresentations.

Background

The lawsuit, filed Sept. 8 by U.S. Bancorp, alleges Cavner used U.S. Bancorp’s confidential client lists in order to solicit business away from U.S. Bancorp for the betterment of Cavner and The Signature Bank.

The Western District Court of Missouri, Southern Division, denied U.S. Bancorp’s call for a temporary restraining order Sept. 14 and subsequently closed the case.

However, the court reopened the case Oct. 31, and U.S. Bancorp added to the lawsuit four more former U.S. Bancorp employees who moved to The Signature Bank: Devona Breeden, Brittney Murray, Steven Clark and Becky Angus.

On Nov. 30, Judge Richard Dorr directed the plaintiff and defendants to resume discovery and placed a temporary restraining order against all defendants.

In the most recent development, Dorr determined in a hearing Dec. 7 that Cavner made false representations to the court in hearings and court documents. He determined she should be financially sanctioned for those misrepresentations by paying at least a portion of U.S. Bancorp’s legal expenses.

No further hearing dates have been set, but discovery continues in the case.

Click here for U.S. Bancorp’s allegations, sworn testimonies and counterclaims.

Click here for Nadia Cavner’s correction of the record.

Click here for The Signature Bank’s correction of the record.

Click here for U.S. Bancorp’s second amended complaint.

Click here for the judge’s order to pay sanctions.

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