If your association conducted a nonjudicial foreclosure in the last 6 years, you could be named in a federal class action lawsuit. A class of approximately 125 plaintiffs has been identified and a class of over 78 defendants has been identified, which includes the law firms PorterMcGuire and EkimotoMorris. The lawsuit was filed on August 10, 2016 in the Federal District Court of Hawaii. Other members of the class may still be identified--both associations and law firms.
The Plaintiffs have identified what appears to be over one hundred instances of nonjudicial foreclosures being conducted pursuant to an inapplicable part of the foreclosure statute.
Associations:
If your association has conducted any nonjudicial foreclosures in the last 6 years, we recommend an immediate audit of your files. Because this issue is developing and has potentially significant ramifications for associations, our team is ready to perform an audit and provide a summary report and opinion immediately.
We have developed a strategic response and action plan for associations that may have exposure.
Managing Agents:
Our strategic plan and action plan for associations that may be exposed requires immediate action to protect those associations' interests and minimize risk.
In some cases, associations may need to switch counsel in order to invoke attorney-client privilege or the attorney work product doctrine. If those associations' attorneys are or could be named as a member of the defendant class, then a conflict of interest could affect the representation of those associations.
We want to protect associations from unnecessary litigation, minimize their costs, and reduce exposure.
If you would like to read a copy of the complaint, please send an email to admin@devriespc.com with a subject matter "Request For Class Action Complaint."