SAN FRANCISCO - A company that purchases and sells class action lawsuit claims has itself been sued in the San Francisco County Superior Court for allegedly failing to pay a customer for the claims he purchased.
The suit was filed on April 22 by plaintiff Michael Engmann, who says he has paid defendant San Francisco-based Cascade Settlement Services over $1.6 million for rights to class action claims.
Engmann accuses the claim purchasing company of refusing to pay him the proceeds made on the class action claims he purchased rights to and explicitly stated intent to distribute the proceeds to its investors instead.
Cascade is charged with breach of contract and breach of covenant of good faith and fair dealing.
Engmann is represented by Garafolo and Ramsdell LLP.