Mynd Management has been involved in several lawsuits in recent years. In 2023, the company was sued by Chase Manhattan Mortgage Corp. for more than $20 million, claiming that Mynd’s mortgage software was late and didn’t perform as promised. Mynd has also been sued by shareholders and competitors.
In the Chase lawsuit, Chase alleges that Mynd’s software was not only late, but also riddled with defects that caused Chase to lose millions of dollars. Chase is seeking damages for lost revenue, as well as the cost of repairing the defects in Mynd’s software.
Mynd has also been sued by shareholders who allege that the company misled them about its financial performance. In 2022, Mynd was sued by a group of shareholders who allege that the company inflated its earnings and concealed its true financial condition. The shareholders are seeking damages for their losses.
Mynd has also been sued by competitors who allege that the company engaged in unfair trade practices. In 2021, Mynd was sued by a rival property management company that alleges that Mynd poached its clients and engaged in other anticompetitive behavior.
Mynd has denied all of the allegations against it and is vigorously defending itself in these lawsuits. The company has also taken steps to improve its corporate governance and financial reporting in an effort to avoid future lawsuits.
