Guaranteed Rate Inc. has settled its lawsuit against LIT Financial Corp. that alleged the mortgage broker carried out a “predatory marketing scheme” using Rate’s name.
Judge Brandy R. McMillion of the US District Court of the Eastern District of Michigan dismissed the lawsuit with prejudice Wednesday. Rate had alleged LitFinancial violated the Lanham Act and Michigan’s trademark laws by sending mailers and texts to known Rate borrowers that falsely implied sponsorship by the mortgage lender and urged recipients to call LitFinancial to refinance.
- Details of the settlement weren’t made available, but the order says it resolves the last pending claim ...
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