Tushner v. First National Mortgage Co.

Defrauded Businessman Awarded $4.5 Million by Jury

Irving Tushner owned a full service home loan business. After some business reversals, he sold the loan division to a bank and the loan servicing division to First National Mortgage. Mr. Tushner retained a one-year option to re-purchase the loan servicing business for $1 million (which would have guaranteed a profit of $500,000 to the buyer). The plaintiff timely notified First National Mortgage that he was going to exercise this option, but the buyer refused to sell it back to him.

Biren Law Group represented Mr. Tushner on a fraud and breach of contract lawsuit. At trial, the defendants argued that the plaintiff was legally and financially incapable of resuming the business and that they had a legal and ethical obligation to the company's clients to continue servicing them. Biren Law Group proved that these defenses were untrue and that the defendants' motivation for keeping the company was to continue reaping the huge profits which they had realized during their first year of operation of the servicing business.

A jury returned a $4.5 million verdict in favor of Mr. Tushner.