Business Services Industry
NovaStar Financial Inc. files lawsuit against mortgage firm.
Knight Ridder/Tribune Business News, October, 2004
By Dan Margolies, The Kansas City Star, Mo. Knight Ridder/Tribune Business News
Oct. 28--A unit of NovaStar Financial Inc. has sued one of the country's biggest mortgage brokers, alleging that it violated a nondisclosure agreement related to "a potential business transaction." In a complaint filed in federal court in Kansas City on Tuesday, NovaStar Home Mortgage Inc. said that Allied Home Mortgage Capital Corp., based in Houston, had wrongfully solicited some of its retail branches.
The Kansas City-based mortgage lender charged that the solicitations occurred after NovaStar had supplied Allied with confidential information about its business, finances and customers in connection with a proposed business transaction.
The complaint...
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