J.C. White Law Group PLLC and Blue LLP brought a successful lawsuit in the U.S. District Court for the Middle District of North Carolina on behalf of property owners who lost their homes and properties to a bid-rigging scheme in violation of Section 1 of the Sherman Act. The plaintiffs alleged group calling itself “The Estates” and its members, who operate through multiple LLCs, engaged in an illegal conspiracy to coordinate their bids at public foreclosures across the state of North Carolinas. The defendants are The Estates, LLC, The Estates (UT), LLC, Timbra of North Carolina, LLC, Versa Properties, LLC, Maldives, LLC, Tonya Newell and Carolyn Souther.

After a five-day long trial, a jury awarded the plaintiffs $1.2 million in damages for violations of the Sherman Act and North Carolina’s Unfair Trade Practices Act.  Judge Catherine Eagles then granted a broad injunction against all defendants that barred them from participating in foreclosures anywhere in the U.S. for eight years.  She also awarded nearly $400,000 in attorneys fees.

“The defendants engaged in intentional and predatory conduct meant to increase their profits at the expense of the plaintiffs and the public interest,” the judge wrote.

Pleadings

• Read the First Amended Complaint
• Read the Jury’s Verdict
• Read the Court’s Order

In the Press

• Judge Explains Contempt Finding In $1.2M Bid-Rigging Case – LAW360
• Homeowners Want Firm Held in Contempt in Foreclosure Suit – LAW360
• Judge Orders Firm To Pay Fees In Rigged-Foreclosure Case – LAW360
• Jury finds Triangle firm committed ‘bid rigging’ – TBJ
• Foreclosure Bid-Rigging Case Nets $1.2 Million for Homeowners – BLOOMBERG LAW
• Foreclosure Bid Rigging Litigation Headed for Antitrust Trial – BLOOMBERG LAW
• Class Action: The Estates, Others Conspired to Manipulate Foreclosure Sales in NC – CLASSACTION.ORG