Primerica alleges Osaic Wealth raided department workplace and poached six advisors
Primerica claims Osaic Wealth raided its West Virginia department, paid money to seize six advisors, and took their shopper information.
A Georgia appeals court docket on October 14, 2026, vacated a trial court docket injunction that had blocked Osaic Wealth and Legacy Investment Advisors and Wealth Management from utilizing confidential shopper information that Primerica claimed was stolen in the course of the alleged raid.
The dispute began on October 17, 2025, when six registered independent-contractor representatives resigned from a Primerica department in Hurricane, West Virginia. According to the choice, they instantly joined Osaic and began promoting monetary merchandise for the agency.
Primerica sued on November 3, 2025, within the Superior Court of Gwinnett County, Georgia, alleging the departures have been coordinated. The firm claimed the defendants induced the representatives with money funds to switch clients’ investments to Osaic and be part of the 2 companies. Primerica additionally alleged the departing representatives accessed and downloaded giant quantities of confidential buyer account information from its IT techniques – conduct the corporate characterised as a breach of each their contractual and authorized duties.
On November 20, 2025, Primerica filed an emergency movement for an interlocutory injunction – a court docket order to freeze the defendants’ use of the allegedly stolen information whereas the case performed out – together with a request for expedited discovery.
The defendants pushed again. Legacy, a West Virginia entity, moved to dismiss on December 5, 2025, arguing the Georgia court docket had no private jurisdiction over it. Both defendants collectively moved to compel arbitration the identical day, arguing that as a result of Primerica and Osaic have been each FINRA-registered broker-dealers, the dispute belonged in a FINRA arbitration discussion board, not state court docket.
The trial court docket held a listening to on December 11, 2025, and granted Primerica’s movement – issuing the injunction and ordering expedited discovery.
The appeals court docket discovered the trial court docket moved too rapidly. Its order was “detailed in its evaluation” of the injunction elements however made solely “a single temporary reference” to the jurisdictional problem and the arbitration movement. The trial court docket had talked about on the listening to that it believed it had jurisdiction below the Georgia Long Arm Statute, however that statute was “not talked about within the precise order.”
The appeals court docket vacated the injunction and despatched the case again, directing the trial court docket to deal with each private jurisdiction and the FINRA arbitration query earlier than continuing. It didn’t attain the deserves and mentioned its opinion didn’t preclude additional appeals.
