|By PR Newswire||
|January 3, 2013 03:54 PM EST||
PHILADELPHIA, Jan. 3, 2013 /PRNewswire-USNewswire/ -- On Wednesday, January 2, 2013, Judge David N. Hurd of the United States District Court for the Northern District of New York issued a ruling permitting all of the plaintiffs' claims to proceed in a nationwide class action alleging that Citibank (NYSE: C) and MidFirst Bank improperly force-place high-premium flood insurance policies on homeowners across the United States.
In their Complaint, plaintiffs Gordon Casey and Duane Skinner allege that Citibank and MidFirst Bank have a policy and practice of force-placing unnecessary flood insurance coverage above the amounts required by their borrowers' mortgage contracts and by federal law. Citibank, MidFirst Bank and their affiliates asked the Court to dismiss the case, asserting that the borrowers' mortgage contracts permit them to force-place high premium flood insurance coverage in amounts the banks deem necessary. However, the Court denied the defendants' motions to dismiss and decided that the plaintiffs' claims alleging breach of contract, unjust enrichment, breach of fiduciary duty, conversion, violation of the Truth in Lending Act, and violation of the New York Deceptive Practices Act can proceed.
"With respect to borrowers who live in federally designated flood zones, Citibank, MidFirst Bank, and other banks engaged in the loan servicing industry have engaged in a classic bait-and-switch, in which borrowers are informed of one set of flood insurance requirements at closing and then, later, the banks demand additional, unwarranted flood insurance coverage," said Shanon Carson of Berger & Montague, P.C., one of the lead attorneys for the plaintiffs. "Through this scheme, Citibank and MidFirst Bank have harmed thousands of borrowers by force-placing unnecessary flood insurance at extraordinarily high prices, which often results in unwarranted fees and other charges. In addition, each time the banks require such insurance, they receive lucrative financial benefits from the insurance companies who place the flood insurance policies."
"All U.S. borrowers with mortgages serviced by Citibank and MidFirst Bank who have been forced to purchase flood insurance policies may be affected by the Court's decision," added Kai Richter, another of the plaintiffs' attorneys. "Now they will have their day in court."
Borrowers who have been subjected to force-placed insurance policies including customers of Citibank and MidFirst Bank who are potentially affected by this decision can obtain additional information by calling Shanon J. Carson, Esq. at (215) 875-4656, of the law firm, Berger & Montague, P.C. Mr. Carson can also be contacted by email at [email protected]. The plaintiffs in this case, Casey, et al. v. Citibank, N.A., et al., No. 5:12-CV-820 (N.D.N.Y.), are represented by the law firms of Berger & Montague, P.C., Nichols Kaster, PLLP, and Taus Cebulash & Landau LLP.
Berger & Montague, P.C., based in Philadelphia, PA, consists of over 60 attorneys who represent plaintiffs in complex and class action litigation. The firm's Consumer Protection Group and Insurance and Financial Products & Services Group have extensive experience in representing homeowners, borrowers and consumers in class action lawsuits against banks and insurers, and the firm has played lead roles in major cases for over 40 years resulting in recoveries of over $22 billion for their clients and the classes they represent. On the Web: www.bergermontague.com. A copy of the Court's decision denying the motions to dismiss filed by Citibank and MidFirst Bank is available at http://www.bergermontague.com/media/363057/citi-mtd-decision.pdf.
Nichols Kaster, PLLP has offices in Minneapolis, MN and San Francisco, CA. The firm was named to National Law Journal's 2011 Litigation Boutiques Hot List for its attorneys' courtroom abilities, and has also been ranked as a Best Law Firm by U.S. News & World Report. Additional information may be obtained by contacting attorneys Kai Richter and Michelle Drake at 612-256-3200. In addition, a copy of the Court's decision is also available on the firm's website, www.nka.com.
Taus, Cebulash & Landau, LLP, based in New York City, specializes in complex consumer and antitrust class action litigation. Brett Cebulash and Kevin Landau, the two TCL partners involved in this matter have 35 years of combined experience in complex litigation and can be reached at (212) 931-0704 or via e-mail at [email protected] or [email protected] for more information.
Berger & Montague, P.C., Nichols Kaster, LLP, and Taus Cebulash & Landau, LLP are currently pursuing class action lawsuits against numerous banks and insurance companies in the mortgage industry who are alleged to have engaged in practices similar to Citibank and MidFirst Bank regarding force-placed hazard insurance and force-placed flood insurance, including Bank of America, Wells Fargo, JPMorgan Chase, Citizens Bank, GMAC, and others.
Shanon J. Carson
Berger & Montague, P.C.
1622 Locust Street
Philadelphia, PA 19103
Telephone: (215) 875-4656
Email: [email protected]
Nichols Kaster, PLLP
4600 IDS Center
80 South Eighth Street
Minneapolis, MN 55402
Telephone: (612) 256-3278
Email: [email protected]
SOURCE Berger & Montague, P.C.
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
Feb. 7, 2016 03:30 PM EST Reads: 370
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, will provide an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profes...
Feb. 7, 2016 02:45 PM EST Reads: 136
SYS-CON Events announced today that VAI, a leading ERP software provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. VAI (Vormittag Associates, Inc.) is a leading independent mid-market ERP software developer renowned for its flexible solutions and ability to automate critical business functions for the distribution, manufacturing, specialty retail and service sectors. An IBM Premier Business Part...
Feb. 7, 2016 02:00 PM EST Reads: 553
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
Feb. 7, 2016 01:45 PM EST Reads: 360
Fortunately, meaningful and tangible business cases for IoT are plentiful in a broad array of industries and vertical markets. These range from simple warranty cost reduction for capital intensive assets, to minimizing downtime for vital business tools, to creating feedback loops improving product design, to improving and enhancing enterprise customer experiences. All of these business cases, which will be briefly explored in this session, hinge on cost effectively extracting relevant data from ...
Feb. 7, 2016 01:30 PM EST
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
Feb. 7, 2016 12:00 PM EST Reads: 341
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 ad...
Feb. 7, 2016 11:30 AM EST Reads: 343
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, will discuss the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filte...
Feb. 7, 2016 10:15 AM EST Reads: 106
As enterprises work to take advantage of Big Data technologies, they frequently become distracted by product-level decisions. In most new Big Data builds this approach is completely counter-productive: it presupposes tools that may not be a fit for development teams, forces IT to take on the burden of evaluating and maintaining unfamiliar technology, and represents a major up-front expense. In his session at @BigDataExpo at @ThingsExpo, Andrew Warfield, CTO and Co-Founder of Coho Data, will dis...
Feb. 7, 2016 07:00 AM EST Reads: 118
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry's single source for the cloud. Fusion's advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including clou...
Feb. 6, 2016 03:30 PM EST Reads: 718
Most people haven’t heard the word, “gamification,” even though they probably, and perhaps unwittingly, participate in it every day. Gamification is “the process of adding games or game-like elements to something (as a task) so as to encourage participation.” Further, gamification is about bringing game mechanics – rules, constructs, processes, and methods – into the real world in an effort to engage people. In his session at @ThingsExpo, Robert Endo, owner and engagement manager of Intrepid D...
Feb. 5, 2016 09:00 PM EST Reads: 785
Eighty percent of a data scientist’s time is spent gathering and cleaning up data, and 80% of all data is unstructured and almost never analyzed. Cognitive computing, in combination with Big Data, is changing the equation by creating data reservoirs and using natural language processing to enable analysis of unstructured data sources. This is impacting every aspect of the analytics profession from how data is mined (and by whom) to how it is delivered. This is not some futuristic vision: it's ha...
Feb. 2, 2016 02:00 PM EST Reads: 408
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Feb. 2, 2016 04:30 AM EST Reads: 851
Learn how IoT, cloud, social networks and last but not least, humans, can be integrated into a seamless integration of cooperative organisms both cybernetic and biological. This has been enabled by recent advances in IoT device capabilities, messaging frameworks, presence and collaboration services, where devices can share information and make independent and human assisted decisions based upon social status from other entities. In his session at @ThingsExpo, Michael Heydt, founder of Seamless...
Feb. 1, 2016 05:00 AM EST Reads: 938
The IoT's basic concept of collecting data from as many sources possible to drive better decision making, create process innovation and realize additional revenue has been in use at large enterprises with deep pockets for decades. So what has changed? In his session at @ThingsExpo, Prasanna Sivaramakrishnan, Solutions Architect at Red Hat, discussed the impact commodity hardware, ubiquitous connectivity, and innovations in open source software are having on the connected universe of people, thi...
Jan. 31, 2016 09:00 PM EST Reads: 726
WebRTC: together these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at WebRTC Summit, Cary Bran, VP of Innovation and New Ventures at Plantronics and PLT Labs, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it may enable, complement or entirely transform.
Jan. 31, 2016 07:15 PM EST Reads: 1,146
There are so many tools and techniques for data analytics that even for a data scientist the choices, possible systems, and even the types of data can be daunting. In his session at @ThingsExpo, Chris Harrold, Global CTO for Big Data Solutions for EMC Corporation, showed how to perform a simple, but meaningful analysis of social sentiment data using freely available tools that take only minutes to download and install. Participants received the download information, scripts, and complete end-t...
Jan. 31, 2016 10:00 AM EST Reads: 1,214
For manufacturers, the Internet of Things (IoT) represents a jumping-off point for innovation, jobs, and revenue creation. But to adequately seize the opportunity, manufacturers must design devices that are interconnected, can continually sense their environment and process huge amounts of data. As a first step, manufacturers must embrace a new product development ecosystem in order to support these products.
Jan. 31, 2016 10:00 AM EST Reads: 810
Manufacturing connected IoT versions of traditional products requires more than multiple deep technology skills. It also requires a shift in mindset, to realize that connected, sensor-enabled “things” act more like services than what we usually think of as products. In his session at @ThingsExpo, David Friedman, CEO and co-founder of Ayla Networks, discussed how when sensors start generating detailed real-world data about products and how they’re being used, smart manufacturers can use the dat...
Jan. 30, 2016 07:45 PM EST Reads: 789
When it comes to IoT in the enterprise, namely the commercial building and hospitality markets, a benefit not getting the attention it deserves is energy efficiency, and IoT’s direct impact on a cleaner, greener environment when installed in smart buildings. Until now clean technology was offered piecemeal and led with point solutions that require significant systems integration to orchestrate and deploy. There didn't exist a 'top down' approach that can manage and monitor the way a Smart Buildi...
Jan. 30, 2016 03:45 PM EST Reads: 1,268