Jim Nagengast, CEO of Securities America, has filed a breach of contract lawsuit against Osaic and its holding company, Artemis Holdings, L.P. WealthManagement reports that the complaint centers on a Confidential Separation and General Release Agreement executed between Nagengast and the defendants following his departure from the firm.

Nagengast's attorneys requested and secured a court order to place the complaint under seal, citing the confidentiality obligations outlined in the agreement. They committed to submitting a redacted version of the complaint for public access within one week of the court's approval.

Osaic declined to comment, citing its policy against discussing pending litigation. Nagengast and his legal team have not responded to media inquiries.

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