An arbitration panel has denied Wells Fargo’s request for $1.4 million over a claim that Stifel Nicolaus improperly recruited 18 former A.G. Edwards and Wachovia advisors in New York.

The case is part of a series of disputes brought to the Financial Industry Regulatory Authority by Wachovia over advisors who left the firm between 2008 and 2009 as it was rolled into Wells Fargo. The original claim dates back to May of 2009 when Wachovia accused St. Louis-based Stifel Nicolaus of “raiding, breach of the Protocol Agreement, injunctive relief, civil conversion, misappropriation, breach of fiduciary duty, breach of contract, violation of [Financial Industry Regulatory Authority] Rules and tortious interference with business relationships” with regards to four advisors.

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