by Structured Settlement Watchdog
DRB Capital, LLC ("DRB Capital") has filed a motion with the Circuit Courts of Broward County, Florida to amend a complaint previously filed against Jacob Joseph & Associates, LLC ("JJ&A") in order to include its principal, Kobi Ribak. Last year, DRB Capital filed suit against JJ&A for tortious interference and violation of Florida's Deceptive and Unfair Trade Practice Act. After conducting some discovery, DRB Capital is asking to amend the complaint so that Mr. Ribak is held personally liable for his involvement in JJ&A's unlawful conduct. In the suit, DRB Capital is seeking compensatory damages and will seek treble damages, attorney's fees and court costs as permitted by FDUPTA, as well as punitive damages, as appropriate.
Fraud Upon Courts in Florida and Other States
Jim Terlizzi, CEO of DRB Capital, said in a company press release last week: "With the increase in the number of structured settlement factoring companies, many of these firms are resorting to unethical and unfair practices in an attempt to gain a competitive advantage. In addition, many are engaged in rampant forum shopping and are, in our opinion, committing a fraud upon the courts of Florida and other states. We will not tolerate such unlawful practices, which are detrimental both to the fair and ethical players in the industry as well as to the consumers. We intend to file additional lawsuits against other firms and their principals who engage in this kind of behavior in the coming weeks."
So there you have it, one of the big boys is jumping in the ring. One wonders what will happen when online video interviews with some of the secondary and tertiary market victims begin to be published. Stay tuned folks.