Troutman Pepper represented a leading national home loan servicer in obtaining a defense verdict, after just 30 minutes of deliberation by the jury, on claims for fraud and punitive damages arising from allegations concerning the offer and implementation of a loan modification and loan forgiveness. The plaintiffs prevailed on a negligent misrepresentation claim. A prior breach of contract claim was dismissed by the court (U.S. District Court for the Eastern District of California) before trial.
The judgment of the court on the negligent misrepresentation claim was $70,000 less than what was offered to settle for damages alone before trial, and the court found that plaintiffs were not the prevailing party in the case, so the court denied them any costs or fees, and awarded no interest on the damages in the case. In short, the case was a complete victory for our client.
The team in this case was led by Justin D. Balser and D. Kyle Deak, and included Erin E. Edwards, Jared D. Bissell, and Tracy L. Bowling.