Encore Bank will Pay $3.6M to Simmons to Settle Lawsuit
“Encore Bank of Little Rock agreed last week to pay Simmons Bank $3.6 million to settle a lawsuit over allegations that Simmons’ former employees took customer and proprietary bank information when they left to work for Encore. Encore is glad to get the distraction of litigation behind us, Encore,” reports Mark Friedman in Arkansas Business.
“In November 2020, Simmons and its parent company, Simmons First National Corp. of Pine Bluff, sued Encore, several of its executives and former employees, saying Encore had improperly lured them away starting in 2019. The 64-page complaint filed in Jefferson County Circuit Court named about a dozen Encore officers as defendants.”