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Pier 1 Gets TJX Restraining Order

Pier 1 Imports said it has obtained a temporary restraining order against The TJX Companies, "enjoining TJX from filing any judicial proceeding or lawsuit against Alexander Smith, other than making a claim for arbitration with the American Arbitration Association."

Pier 1 hired Smith as president and ceo, effective Feb. 19. At TJX, he was serving as senior exec vp, group president on the day the hiring was announced, Jan. 30.

Pier 1 had filed suit on Monday, Feb. 12 "to prevent further interference by TJX with the employment of Pier 1's new president and ceo, Alex Smith." A Pier 1 executive committee member, Tom Thomas, said Pier 1 "is not a competitor with any of the TJX companies."

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