NEXA LendingThe corporate, previously referred to as NEXA Mortgage, is accusing a number of former NEXA mortgage officers, managers and former president Matt Grella of finishing up coordinated “worker raids” to break its enterprise.
The lawsuit was filed Nov. 5 in Arizona’s Maricopa County Superior Court docket, and Glera, former department supervisor Gregory Nichols, who relies in Michigan, Platinum One Lending, Proprietor Glera employed NEXA mortgage officers and conspired to make use of Glera’s confidential information to construct a competing enterprise.
“NEXA will not be within the enterprise of taking part in video games,” NEXA CEO Mike Cortas mentioned in an announcement. housing wire. “If somebody or any group makes an attempt to hurt our firm and the fantastic people who find themselves a part of our household, we are going to do all the pieces we will to guard their pursuits. On this case, I’ll let the information communicate for themselves.”
Kotas mentioned NEXA is working intently with its legal professionals. “Our focus now’s easy: to guard our staff, companions, and the 1000’s of mortgage officers who depend on us. Each motion taken in opposition to NEXA comes with accountability, interval… I’ve at all times believed that chance reveals an individual’s character. Some use it for progress, whereas others squander it. Both method, NEXA continues to maneuver ahead. We won’t decelerate for anybody.”
Mr. Grella and the opposite defendants didn’t reply to HousingWire’s requests for remark on the time of publication.
The lawsuit additionally names former NEXA mortgage originators and managers Anthony and Christy Galavis, Brandon Watson, Kristin Berg, Naveen Vadwa, Nicole Poiris and Katie Poiris, Shannon Bell, Taylor McCarty, Alexandra Marchand, Tabatha Jimenez and Zane Darlington.
Grella’s spouse, Sheridan Murray-Grella, and Platinum One Lending are additionally named, as are 25 different unnamed “doe” defendants.
Lawsuit alleges Grella used inside info
The lawsuit alleges that the previous staff “violated binding contractual obligations, the responsibility of loyalty, and established rules of Arizona legislation, leading to vital monetary and reputational hurt to one of many nation’s largest and most profitable mortgage brokers.”[s] and the lender[s]”
NEXA alleges that Grela, who was fired in March 2024 and “at the moment holds a 49.5% separate membership curiosity” in NEXA, used inside details about the corporate’s methods and compensation construction to assist recreate Platinum One’s enterprise mannequin.
Nichols is accused of working with Grela to recruit colleagues and switch loans and purchasers to him whereas he was at NEXA.
The grievance alleges that Nichols and 11 different mortgage originators violated employment agreements that prohibited them from soliciting co-workers or utilizing confidential info. NEXA alleges that after the group started working at Platinum One, they hid their plans, lied throughout exit interviews about whether or not they have been leaving the business or going to different firms, and misused borrower info.
“Nichols and his co-conspirators who left NEXA and finally joined Platinum One started claiming to be a part of the Nichols staff even earlier than Nichols joined Platinum One,” the grievance states.
NEXA accuses the defendants of breach of contract, breach of loyalty, tortious interference, unfair competitors, civil conspiracy, and unjust enrichment. The corporate is in search of financial damages, punitive awards, and a court docket order barring the defendants from utilizing its information or contacting its staff or clients.
Different lawsuits
NEXA has additionally been concerned in different lawsuits this yr. Throughout the final month, the Arizona-based lender expanded its lawsuit in opposition to former worker Christine Wake, naming three firms within the lawsuit: Grera, Murray Grera and Platinum One Lending, alleging that every defendant misappropriated commerce secrets and techniques, breached contracts and conspired to recruit NEXA staff to competing firms.
The amended grievance relies on a Might 2025 NEXA lawsuit that accused Wake of utilizing confidential coaching supplies, soliciting staff to hitch rival companies, and refusing to return the corporate’s area identify. The case remains to be ongoing.
NEXA beforehand sued the Grelas in April 2024 for alleged breach of contract, breach of fiduciary, obstruction, fraud and defamation. Mr. Grella co-founded NEXA with Mr. Cortas in 2017 after Mr. Cortas left the corporate. fairness prime mortgagewas closed in March 2024 amid acquisition negotiations. Individually, he has accused Mr. Kotas of misappropriating firm funds to pay for plane, an allegation that Mr. Kotas denies.
