"Kortas stated, 'We don't have, and never had, any of their information, nor do we care. In fact, I wouldn't copy their model if I knew it because mine is better.'"
"'Some people are just sue happy and want to use the legal system as a weapon,' Kortas said, emphasizing that loanDepot should improve its operations against brokers instead of attacking them."
"'NEXA knowingly assisted, if not orchestrated, the Former Employees' breaches of these contractual and legal restrictions to obtain a competitive advantage over loanDepot,' the lawsuit claims."
"'The lawsuit includes claims under the federal Defend Trade Secrets Act and the Computer Fraud and Abuse Act,' highlighting the serious legal implications of the allegations."
NEXA is accused by loanDepot of assisting former employees in accessing and transferring confidential customer data, violating privacy laws. The lawsuit claims that NEXA's manager encouraged this misconduct for competitive advantage. NEXA's attorney, Kortas, asserts that they never had loanDepot's information and views the lawsuit as a means for loanDepot to inflate legal costs. He anticipates the lawsuit will be dismissed and seeks attorney fees. loanDepot has also initiated arbitration against the former employees involved in the case.
Read at www.housingwire.com
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