LoanDepot granted preliminary injunction against CrossCountry Mortgage

The United States District Court for the Northern District of Illinois granted LoanDepot a preliminary injunction against CrossCountry Mortgage and six former loanDepot employees now employed by CrossCountry in what LoanDepot called "a significant legal victory" when announcing the news in a press release. LoanDepot, Inc. President and CEO Frank Martell said: "We are extremely pleased with the Court’s ruling. loanDepot will continue to vigorously protect its interests." James Witz, lead outside counsel for loanDepot, added: "The court’s ruling underscores the likelihood of success on our claims in this case. We are pleased that the Court entered a preliminary injunction against both CrossCountry and the individual defendants. loanDepot takes the protection of its trade secret and confidential information, and contractual agreements with its employees, very seriously."