Tennessee Court Lets Modern Mortgage Breach Suit Proceed Over 1 Unauthorized Competitor Agreement
Updated
Updated · Bloomberg Law · Aug 5
Tennessee Court Lets Modern Mortgage Breach Suit Proceed Over 1 Unauthorized Competitor Agreement
1 articles · Updated · Bloomberg Law · Aug 5
Summary
A Tennessee federal judge refused to dismiss Modern Mortgage Lending’s breach-of-contract and related claims against a former outside sales loan officer and others.
The court said the officer allegedly breached confidentiality terms in his employment agreement by signing an unauthorized deal with competitor V.I.P. Mortgage.
That agreement allegedly permitted disclosure of Modern Mortgage’s confidential customer information, giving the contract claims enough support to move forward.
The ruling keeps the lender’s case alive at an early stage and allows litigation over the alleged misuse of customer data to continue.