California-based nonbank lender loanDepot is suing former chief operations officer Tammy Richards for breach of contract and fiduciary duty, accusing her of stealing confidential information concerning the lender’s customers. 

The move is part of a legal battle that started in September 2021 when Richards filed a lawsuit alleging the lender closed thousands of loans without proper documentation to boost its performance ahead of its initial public offering (IPO) on the New York Stock Exchange.  

loanDepot hired Richards in February 2018 to oversee its channels at that time — retail, details ⇒

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