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    ROG   CH0012032048

ROCHE HOLDING AG

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Roche : Check You Employment Agreement's Restrictive Covenant

06/17/2021 | 02:13am EDT

A recent decision by the U.S. District Court for the Southern District of New York in Flatiron Health, Inc. v. Carson1 found that an employer's restrictions on a former employee were unenforceable. This case highlights a knot that has formed in the law of non-compete agreements. To untangle the knot, a trial court must look past an accumulation of other trial court decisions, to the appellate decision that started it all. That is what the federal trial court effectively did in this case.

The Law of Restrictive Covenants

Contract law treats employee non-compete agreements differently than other agreements. In New York, as in many other states, these agreements are looked at unkindly. It is not infrequent that an employer is unable to enforce a non-compete agreement.

More generally, these kinds of agreements are called restrictive covenants in employment contracts. This covers two kinds of agreement that often come up. One kind is non-compete agreements, because the employer has said to the employee, "After you leave, do not compete with me." The other kind is non-solicitation agreements, because the employer has said to the employee, "After you leave, just don't pitch to my customers or entice away my employees." Both of these kinds of agreements are a restrictive covenant in an employment contract.

Click here to continue reading . . .

Footnote

1. No. 19 Civ.8999, 2020 WL 1643396 (S.D.N.Y. Apr. 1, 2020).

Originally published May 26, 2020

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Ihsan Dogramaci
Pavia & Harcourt
600 Madison Avenue
New York
10022
UNITED STATES
URL: www.pavialaw.com

© Mondaq Ltd, 2021 - Tel. +44 (0)20 8544 8300 - http://www.mondaq.com, source Business Briefing

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Financials
Sales 2021 61 115 M 67 378 M 67 378 M
Net income 2021 14 720 M 16 229 M 16 229 M
Net cash 2021 5 091 M 5 613 M 5 613 M
P/E ratio 2021 20,6x
Yield 2021 2,66%
Capitalization 309 B 340 B 341 B
EV / Sales 2021 4,97x
EV / Sales 2022 4,82x
Nbr of Employees 101 465
Free-Float 83,4%
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Number of Analysts 26
Last Close Price 354,00 CHF
Average target price 376,05 CHF
Spread / Average Target 6,23%
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Managers and Directors
Severin Schwan Chief Executive Officer & Executive Director
Alan Hippe Chief Financial & Information Technology Officer
Christoph Franz Chairman
Urs Jaisli Chief Compliance Officer
AndrÚ S. Hoffmann Vice Chairman
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