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.