ENCINO, CA— Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, will recover significant damages from its former Portland, Ore. broker of record Gary Imbrie, (middle left photo) his son Ryan Imbrie (bottom right photo) and Sperry Van Ness International Corporation, Inc.
According to Paul Mudrich, (top right photo) senior vice president and chief legal officer of Marcus & Millichap, the Imbries left Marcus & Millichap in June 2004 to open a Portland office for competitor Sperry Van Ness.
Marcus & Millichap filed a lawsuit against the Imbries and Sperry Van Ness in Irvine, Calif., alleging that they misappropriated key business documents and attempted to misappropriate an exclusive listing, in an effort to jumpstart their new venture.
Both the broker and SVN were sued by M & M in Orange County Superior Court, and that case was later dismissed by the judge on grounds that the case should have been filed by M & M in Oregon.
M & M appealed the adverse decision against it, and while the appeal was pending, the case was settled through a private mediation that took place in Portland, Oregon in late January 2009.
A mutual release and waiver of claims was given by both sides, including a release of any claims SVN might have had against M & M and its attorneys for malicious prosecution and abuse of process.