Amrock seeks new trial in HouseCanary suit after judge denies motion

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Amrock is calling for a new trial in its dispute with HouseCanary following a judge's denial of its motion to reverse an earlier decision in HouseCanary's favor.

The Quicken Loans affiliate had sought a motion for judgment notwithstanding the verdict in the case, in which a Texas state court in Bexar County awarded HouseCanary more than $700 million.

The motion was based on allegations that whistleblowers who previously worked for HouseCanary could verify Amrock's claims in the software licensing dispute, and that the judge's decision has been based on insufficient evidence.

"We are disappointed that the court did not throw out the jury's verdict in light of HouseCanary's expert witnesses testifying there was no wrongdoing, and further evidence contradicting the claims of 'trade secret' misappropriation," David Prichard, Amrock's attorney of Prichard Young, said in a press release. "We look forward to putting the whistleblowers' evidence of fraud and collusion before the judge and are confident that once this evidence is aired, justice will prevail."

At issue in the original legal dispute between the two companies was whether HouseCanary, a home price data and analytics firm previously known as Canary Analytics, failed to deliver fully usable real estate valuation software and data to Amrock, a settlement services firm previously known Title Source

Subsequent counterclaims filed by HouseCanary in the case, Title Source Inc. v. Housing Canary Inc., allege the licensing deal fell apart because Amrock allegedly asked for multiple changes to contracts and prices without paying promised amounts. HouseCanary also alleged Amrock secretly duplicated its technology.

The judgment by the district court jury in Bexar County was based on those counterclaims. HouseCanary is a Delaware corporation with operations in San Antonio.

In conjunction with the denial of the motion for judgment notwithstanding, the court rendered final judgment based on these counterclaims.

"We are extremely gratified the court entered judgment on the full verdict rendered by the jury," HouseCanary said in an emailed statement. "The jury and the court, during two months of trial, heard extensive evidence of Title Source Inc./Amrock's misappropriation of HouseCanary's highly valuable trade secrets related to its real estate valuation analytics along with Title Source Inc./Amrock's conduct and contractual breaches. The judgment reflects the jury's finding in favor of HouseCanary on every single issue."

Until the sums awarded to HouseCanary are paid, the court will charge Amrock 5% in interest per year, compounded annually, according to the final judgment in the case.

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Disputes and judgments Predictive analytics Mortgage technology Appraisals Home prices Quicken Loans Texas
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