Article Summary
NEXA Mortgage, a mortgage brokerage, has accused its former director of training, Kristine Wake, of stealing proprietary information related to its educational materials and attempting to poach its employees. Wake has also allegedly held the domain name for NEXA’s loan officer training website hostage, demanding an $18,000 payment in exchange for releasing it. The lawsuit was filed in an Arizona federal court on May 2, 2024, with two other unidentified NEXA employees named as defendants.
What This Means for You
- Ex-employees cannot use confidential information for personal gain or to harm their former employer.
- Companies should protect their intellectual property by registering domain names and trademarks in their own name.
- Employers should have clear contractual obligations and non-compete clauses in place to prevent former employees from poaching clients or employees.
- Cybersquatting can result in legal consequences, and companies should be vigilant in protecting their online presence.
Original Post
The lawsuit alleges that Wake solicited NEXA employees to join her new venture, NEXXT LEVEL Mortgage, while she was still employed at NEXA. She also allegedly took NEXA’s confidential, proprietary training material with her when she transitioned to Platinum One Lending. NEXA is seeking $75,000 in damages and accuses Wake of breaching her contractual obligations and breaching the Anti-cybersquatting Consumer Protection Act by not giving up the domain name to its training content.
NEXA Mortgage did not respond to a request for comment, and Wake could not be reached for comment. The mortgage brokerage has been involved in a number of contentious suits, including one with its co-founder Mat Grella, who filed a suit against NEXA’s CEO, Mike Kortas, accusing him of misappropriating funds to purchase luxury aviation in mid-2024.
Key Terms
- Proprietary information
- Poaching employees
- Cybersquatting
- Non-compete clauses
- Intellectual property
- Domain names
- Training materials
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