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LendingTree Drops Lawsuit

Just three weeks after filing a lawsuit over a deal between Google and Mortech Inc., LendingTree LLC is backing away.

The lawsuit was filed on Aug. 25 by LendingTree. The lead generation company claimed a deal between Lincoln, Neb.-based Mortech and Google violates covenants of a contract between LendingTree and Mortech.

“We will vigorously protect our contractual rights, our company, our customers and our clients in this matter,” LendingTree Chief Executive Officer Doug Lebda said last month.

A hearing was scheduled for Sept. 2.

Yesterday, LendingTree issued a brief statement about the case.

“LendingTree LLC and Mortech Inc. have resolved their lawsuit to the mutual satisfaction of both parties, and the lawsuit has been dismissed,” the statement said.

Charlotte, N.C.-based LendingTree reports that it is has “more than 25 million loan requests and $185 billion in closed loan transactions.”

A separate statement from Mortech confirmed the dismissal and indicated that it is “committed to our customers, including those on the LendingTree network.”

Mortech Sued Over Google Deal
A deal between Google and Mortech Inc. has landed the Nebraska firm in court.

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