According to published reports, Judge Marvin J. Garbis ruled against David Springer and Sovereign Funding Group’s motion for summary judgment in favor of plaintiff Woodbridge Structured Funding, LLC. (Woodbridge Structured Funding, LLC v Sovereign Funding et al. Civil action No. MJG-11-3421)1
The judge issued a scheduling order requiring all fact discovery be completed by December 31, 2012. Woodbridge’s complaint states that the defendants allegedly utilize unfair competitive practices including trademark infringement, false advertising, libel, defamation and product disparagement.
Previously, structured settlement factoring company and competitor J.G. Wentworth filed a similar lawsuit against Springer and Sovereign Funding accusing the Maryland based company of comparable allegations as the Woodbridge lawsuit. That lawsuit was settled in March 2012.
In February 2012, it was reported that several other companies/individuals were also victims of the alleged SEO tactics of Sovereign Funding and/or its SEO vendors including MetLife, Pacific Life and industry blogger John Darer.