The Washington state monetary advisor who just lately sued Hightower for breach of contract and poaching his shoppers was granted a brief restraining order in opposition to the enormous RIA aggregator.

As well as, the previous Hightower advisor, Lars Knudsen, mentioned in a press launch Wednesday {that a} U.S. District Courtroom decide for the Western District of Washington on March 27 granted his movement to maneuver his lawsuit in opposition to Hightower Holdings again to state courtroom and out of federal jurisdiction.

A King County, Wash., commissioner granted the restraining order Tuesday. It’s a part of the swimsuit Knudsen, of Bellevue, Wash., filed in opposition to Hightower final month in King County.

Late final month, Hightower countered with a strongly worded grievance in opposition to Knudsen and his fairness entity, Telos Funding Holdings Inc., a former Hightower affiliate. Hightower had argued for transferring the case to federal courtroom in Chicago.

Knudsen based Triad Wealth round 2008, and was approached for an affiliation with Hightower in 2018. Hightower mentioned in its Illinois U.S. District Courtroom submitting that he then bought a stake in that enterprise, HT Bellevue Advisors, to Hightower. By means of Telos, Knudsen additionally owned a stake in HT Bellevue. The connection soured as Knudsen mentioned he wasn’t capable of preserve relationships with shoppers. Hightower responded by charging Knudsen with, amongst different issues, stealing firm secrets and techniques and misappropriating funds and diverting monies that ought to have gone to Hightower.

Knudsen sought the restraining order to cease Hightower and different defendants named in Knudsen’s preliminary swimsuit from spreading “disinformation and false allegations about him to his shoppers,” in accordance with the discharge.

“They’re bullies, plain and easy,” mentioned Knudsen. “I’m happy the good judges and commissioner are seeing by their antics. I’ve all the time been prepared to achieve a decision, and possibly these rulings will result in a extra productive dialogue with Hightower executives and advisors.”

In his preliminary swimsuit, Knudsen claimed Hightower broke contracts, unfold false allegations and tried to implement overly restrictive non-compete agreements, amongst different actions. He claimed within the courtroom submitting that Hightower was attempting to assist its worth amid rumors that it was promoting its enterprise.

“Whereas we hope for a fast decision to this authorized matter, these milestone victories preserve us on a authorized pathway we hope will result in an amicable and swift conclusion that enables Lars to maneuver ahead serving his shoppers as he has for many years,” mentioned Knudsen’s lawyer, Andrew R. Escobar, a associate at Seyfarth Shaw LLP, in an announcement.

Through e mail, a Hightower spokesman mentioned the agency doesn’t touch upon pending litigation.