Home Auctioner Says Rival's Lies Drove It Out Of Biz

Law360, New York (June 22, 2009, 12:00 AM EDT) -- National Home Auction Corp., a defunct real estate auction company specializing in foreclosed properties, has filed a $132 million lawsuit against its one-time rival, Real Estate Disposition Corp., accusing REDC of engaging in a concerted campaign of libel and unfair competition that drove NHA out of business.

In a suit filed Friday in the Superior Court of the State of California, County of Orange, NHA alleges that REDC, one of the nation's largest real estate auction companies, sent numerous letters to banks and developers selling distressed...
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