A breakaway UBS adviser who launched an RIA may have violated his non-solicitation agreements, but the firm’s grievances do not merit a restraining order, a federal judge has ruled.

The Swiss wirehouse lost its request for a preliminary injunction against Phil Fiore and the three other founders of Procyon Partners under a ruling Monday. Connecticut District Judge Victor Bolden denied UBS’ motion, citing no possible “irreparable harm” that would result without a court order.

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