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Lawsuit filed over ‘gentleman’s’ no-hire agreement between nCino, Live Oak Bank
nCino, a Wilmington-based cloud bank software company. (Source: WECT)
By Michael Praats | March 16, 2021 at 11:44 AM EDT - Updated March 16 at 12:13 PM
WILMINGTON, N.C. (WECT) - Competition is one of the underlying principles of a free-market economy. Now, two of Wilmington’s leading technology companies are facing a possible class-action lawsuit after allegations of violations of federal antitrust law to stifle competition and keep employee pay low.
Live Oak Bank and nCino share a common family as executives from Live Oak Bank helped found nCino in 2011, however, according to allegations in the lawsuit, the companies don’t want to share their employees., ....

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