by Structured Settlement Watchdog
The alleged methods of unfair competition employed by structured settlement factoring operative David Springer and Sovereign Funding Group will indeed be subject to scrutiny through the legal discovery process. David Springer and Sovereign Funding Group are Defendants in a lawsuit pending in Maryland Federal Court and on June 21 2012, in a Memorandum and Order, Judge Marvin J. Garbis ruled against the Defendants' motion for summary judgment in favor of Woodbridge Structured Funding, LLC, and issued a scheduling order requiring all fact discovery be completed by December 31,2012.
In its complaint Woodbridge alleges
Trademark Infringement (Lanham Act)
– False Advertisement (Lanham Act)
– Unfair Competition and False Designation of origin (Lanham Act)
– Common Law Trade Libel and Product Disparagement
– Common Law Defamation
The Woodbridge lawsuit is the second of a series of lawsuits by competitors against Springer, a Mount Airy, Maryland resident. Another lawsuit filed by J.G. Wentworth in Maryland state court in October 2011 was settled in March 2012, It appeared that J.G. Wentworth raised many of the same issues with David Springer and Sovereign Funding in its complaint as Woodbridge. Upon information and belief other legal action over allegations of unfair business practices of David Springer is imminent.
In the opinion of this author, the Woodbridge lawsuit and the allegations against Springer have significance to both the primary and secondary structured settlement industry and even a Bronx New York Supreme Court judge. Taken together with the now settled J.G. Wentworth action against the same Defendant(s), there is more than one entity which has alleged, based on its own independent research, a responsible party (parties) for the webuypayments.net redirect scheme.
For further information about Woodbridge Structured Funding, LLC v Sovereign Funding et al. Civil action No. MJG-11-3421 please refer to www.pacer.gov