Guaranteed Rate ordered to pay $25M to Mount Olympus Mortgage for data theft

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RE: Mount Olympus Mortgage Company . Dear (Customer Name): Following up on our prior communication to you regarding the conduct of some of our former employees, we are contacting you now because we have learned of a related data security incident that has occurred in connection with their departure from our company.

Guaranteed Rate ordered to pay $25M to Mount Olympus Mortgage for data theft – A California jury ordered Guaranteed Rate to pay more than $25 million. and misappropriation of the confidential loan files. According to Chad Hummel of Sidley Austin, which represented Mount.

American Lawyer Media’s Litigation Daily featured Manatt’s trial victory on behalf of Orange County-based Mount Olympus Mortgage Co. (MOMCo), for which the firm helped secure a $25.1 million verdict in a suit against Guaranteed Rate, Inc., the second-largest private mortgage bank in the country, and a former MOMCo employee.

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Late last month a jury awarded Mount Olympus Mortgage Company (MOMC) more than $25 million for their claims against Guaranteed Rate (Guaranteed), which alleged Guaranteed along with other former employees of MOMC illegally transferred hundreds of loan files from MOMC’s internal systems to Guaranteed. While the award rightfully highlights some.

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