JLL Sues Broker Who Left For CBRE For Breach Of Contract
Article excerpt
Highlighted: the sentence this signal was extracted from
A month after one of JLL's top brokers left the firm, the Chicago-based real estate giant is suing her, arguing that she violated a noncompete agreement when she joined its biggest rival. JLL filed a lawsuit on Oct. 1 against life sciences power broker Molly Heath, alleging that Heath breached a one-year noncompete and transferred confidential information to personal accounts before leaving for a new position, the Boston Business Journal first reported. Heath's hire as an executive vice president at CBRE was announced in September . Heath didn't respond to Bisnow 's request for comment. JLL declined to comment further on the lawsuit. Heath worked at JLL for roughly 20 years, most recently serving as executive managing director and co-lead for the Boston life sciences practice. JLL said in the lawsuit it gave Heath a $3M pay package in 2021, consisting of a $1.75M forgivable loan on top of $1.25M in performance bonuses, which included a noncompete clause. Heath generated $10.8M in business for JLL between 2022 and 2025, and she paid off the existing loan balance of a little more than $1M four days before resigning from her role on Aug. 6, according to the suit. The brokerage firm argues that even though the loan was paid in full, it doesn't equate to forgiveness. JLL said in the suit the restrictions laid out "apply until the Debt set forth in the Promissory Note is fully...
Keep reading with a free account
The rest of this article, and every signal for CBRE, is in your free account.
