DAYTONA BEACH, Fla. (PRWEB) December 09, 2022
The four-year court battle that pitted Brown & Brown against key executives Charles Lydecker, Alan Florez and Ben Barbieri, who went on to form Foundation Risk Partners, Inc. (FRP), came to a decisive end and clear victory for Lydecker, et. al.
In 2020, Brown & Brown, one of the nation’s largest insurance brokerages, filed a lawsuit against Lydecker, Florez, and Barbieri (Case Number: 2020-30898-CICI) accusing its former executives of planning and preparing to start a new company while still employed and stealing trade secrets to support its launch. In all, there were 18 counts against the group, alleging a wide range of wrongdoing.
On November 18, Judge Dennis Craig of the 7th Judicial Circuit Court of Florida, ruled there was no credible evidence to support any of the claims brought by Brown & Brown and rejected all 18 counts.
“We knew we were on solid legal footing and therefore were not going to be deterred by lawsuits aimed at slowing our progress as a key competitor in the insurance brokerage space,” said Tom Leek, FRP’s Chief Legal Officer.
“The bottom line is that the Brown & Brown’s claims were meritless and in search of facts that simply did not exist,” continued Leek. “It’s clear that they did not expect us to take them to a verdict.”
“We prevailed as we fully expected. This was always a lawsuit in search of a claim. We were not going to back down from a position of truth or be intimidated. Our reputation and that of all our team members is too important,” said Charlie Lydecker, CEO of FRP and one of the key executives named in the lawsuit.
About Foundation Risk Partners
Headquartered in Daytona Beach, FL, Foundation Risk Partners is one of the fastest growing insurance brokerage and consulting firms in the United States. Through acquisition and organic growth, FRP continues to expand throughout all regions with a specific growth strategy that ensures a complementary mix of industry expertise, coverage, specialized services, location, values and cultural fit. With over 2000 professionals in 139 locations across 18 states, Foundation Risk Partners is driven to seek new levels of success for its partners, while providing superior results for their clients. Financially backed by Partners Group, Foundation Risk Partners is a U.S. Top-20 ranked insurance brokerage.