The appellant, RBC Dominion Securities, sued its former branch manager and several investment advisors who left en masse to join a competitor, Merrill Lynch.
The trial judge found the branch manager breached his implied contractual duty of good faith by orchestrating the departure, and awarded substantial damages for loss of profits.
The trial judge also awarded damages against the investment advisors for unfair competition during the notice period.
The Court of Appeal overturned these awards.
The Supreme Court of Canada allowed the appeal in part, reinstating the damages against the branch manager for breach of good faith, but upholding the Court of Appeal's decision that the investment advisors were not liable for unfair competition during the notice period.