LoanDepot.com, CrossCountry Mortgage Settle Trade Secrets Suit

LoanDepot.com reached a settlement in principle with a mortgage lending competitor it said poached several of its employees, according to an order dismissing the case Monday.

The new CrossCountry Mortgage LLC workers allegedly retained confidential information to solicit customers, and asked their colleagues to join them at the competitor, according to court documents from the US District Court for the Southern District of New York.

• CrossCountry failed to convince the court to not issue a preliminary injunction against using customer contacts after arguing in part loanDepot engaged in the same alleged conduct
• The competitors didn’t immediately respond to a request ...