News
August 16, 2007 — Jury Awards $1.16 Million to Plaintiff Represented by Weeks & Laird Law Firm
The law firm of WEEKS & LAIRD PLLC recently represented a plaintiff in a two-week jury trial against Ameriquest Mortgage Company for fraudulent practices related to homeowners' re-financing. The re-financing resulted in the loss of the homeowners' home at foreclosure. Founding partner Stephen M. Weeks was lead attorney in the case, in which the jury awarded a verdict totaling $1.16 million to the homeowners, including $1 million in punitive damages to the homeowners.
November 2, 2007 — Court Denies Ameriquest's Motion for New Trial
The trial court ruled that reasonable jury could find:
- Ameriquest held "fake" loan closing to deter borrower from contacting other lenders.
- Ameriquest harmed borrowers with hidden pre-payment penalties.
- Ameriquest concealed terms of loans from customers which would result in loss of borrower's home.
- Ameriquest's concealment of negative information from borrowers was part of a business model conceived and executed at the very top echelons of Ameriquest.
In upholding the jury's award of punitive damages against Ameriquest, the court specifically found that "reprehensible seems a mild label to put on defendant Ameriquest Mortgage Company's misconduct."
WEEKS & LAIRD PLLC
2223 E. Speedway Boulevard
Tucson, AZ 85719
Telephone: 520-318-1209 | Fax: 520-327-3118
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