According to UWM, this lawsuit is part of a larger campaign aimed at hurting the company’s business and reputation.
In its latest filing, Boies Schiller denied any connection with Hunterbrook. The firm said that no Hunterbrook-associated entity was funding the class action. The firm also clarified that it has “no interest — none — in any trade by any Hunterbrook entity on UWM’s stock.”
The firm dismissed UWM’s push for sanctions as a “side-show”, arguing that the lender is using these claims to distract from its alleged unfair lending practices.
The lawsuit was filed after an investigation by Hunterbrook Press, the media arm of Hunterbrook Capital, questioned UWM’s business practices. Boies Schiller acknowledged that the nonprofit Hunterbrook Foundation shared research and data with the firm before the legal action was initiated.
However, UWM claimed that Boies Schiller and Hunterbrook have launched a “coordinated campaign” to damage its business and stock value.