Mount Olympus Mortgage Company v. Anderson, et al.
After a seven-week trial, a California jury returned a damages award to Analysis Group client Mount Olympus Mortgage Co. (MOMCo) for $25.1 million, including $13.0 million for punitive damages, from a rival mortgage company and a former loan officer. The jury found that defendant Guaranteed Rate Inc. (GRI), one of the nation's largest mortgage banks, had recruited MOMCo's leading loan officer, defendant Benjamin Anderson, and induced him to sign an employment agreement. While still working for MOMCo, Mr. Anderson improperly transferred hundreds of private consumer loan files from MOMCo's computer systems to GRI. He was terminated upon discovery of the misappropriation. In addition to losing the opportunity to close hundreds of real estate loans, MOMCo's ongoing business permanently suffered significant loss of reputation and goodwill. Analysis Group Managing Principal Jeffrey H. Kinrich served as an expert witness, testifying at trial about damages stemming from the data misappropriation, including the ongoing damage to MOMCo's business that was attributable to the defendants' actions. Vice President Nathan Trujillo supported Mr. Kinrich in assessing lost profits related to the misappropriated leads that converted to actual mortgage loans, calculating disgorgement of ill-gotten gains, and determining lost business value.