Towry verdict due next week

The much delayed verdict of the £5.8m case against seven Raymond James advisers is due next week.

The court case, which began on 7 June 2011, centres around the former Edward Jones advisers allegedly breaching non-solicitation clauses when they left employment with Towry.

Most recently set for 27th January, the judgement was delayed last month as Justice Cox, who is presiding over the case, fell ill, with no further date being set for the verdict.

All seven advisers declined to work for Towry after its takeover of their employer, Edward Jones, and instead began working as self employed advisers for Raymond James.

Towry claimed that around 400 clients worth more than £33m transferred their business and investments to those advisers.

The judgement will be handed down at 14:00 on 14th February at the Royal Courts of Justice.

laura.suter@ft.com