In one day, Charter Oak, a Connecticut mortgage broker, lost one-third of its staff and valuable customer data
to rival CTX Mortgage (FSB
, December 2006). Revenues plummeted from $3.5 million to $300,000, and Charter Oak filed suit against CTX, as did the attorney general of Connecticut.
Now: Charter Oak's suit is set for this spring, but the company's owner, Debra Killian, says her firm's reputation has suffered, most of her remaining staff has also left, and the company is down to a single office.
NEXT: Move fast