From a confidentiality agreement dispute to accusations of fraud, unfair competition and breach of contract, there are many reasons why business litigation occurs. When lawsuits arise, they can wreak havoc for companies in Miami, Florida, and throughout the country. As a result, it is particularly important for business owners to ensure that business disputes are addressed properly. When all of the right steps are taken and the appropriate course of action is identified, businesses may be able to help secure a positive outcome for their firm and lessen the sometimes devastating impact of litigation.
A lawsuit that was filed against a finance company based in Boca Raton was recently dismissed in U.S. District Court. The suit, which was filed in 2013 by a Canadian financial services company, accused the finance company of fraud and civil racketeering.
According to the complaint, the finance company allegedly advanced funds from life insurance premiums using fake loan transactions. However, all of the charges were dismissed and the company's CEO said the ruling validates the firm's business model.
When it comes to business litigation, each situation may be unique in a variety of ways. Whether a business dispute involves a major foreign company or a small, family-owned business, each case presents unique details and requires an individualized approach. Although some business owners feel overwhelmed by the thought of going to court, there are a number of ways they may be able to simplify their experience, such as closely reviewing the ins and outs of the case and reaching out to a knowledgeable legal professional.
Source: South Florida Business Journal, "Imperial Holdings freed from Sun Life lawsuit," Nina Lincoff, Feb. 6, 2015