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Tullett Prebon gets the verdict in poaching case

A judge has ruled that BGC Partners was part of an unlawful conspiracy to poach senior staff at inter-dealer broker Tullett Prebon last year.

Mr Justice Jack agreed there had been a conspiracy between BGC, the broker's President Shaun Lynn and former senior Tullett executive Tony Verrier to steal Tullett workers.

He granted a further injunction preventing BGC from recruiting Tullett employees until 2 April and gave Tullett the go-ahead to claim damages.

The long-running saga began when Verrier joined BGC from Tullet in January 2009 and began hiring some of his old firm's best traders.

He stood accused of unlawfully poaching 10 staff and trying to take as many as 90 from Tullet which would have seriously impacted operations. Fifty-two actually left the company.

Tullet wants $500m of damages from its New York-based rival.

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