DRB Capital Files Motion to Include Principal, Kobi Ribak

DELRAY BEACH, Fla., July 18, 2018 /PRNewswire/ -- DRB Capital, LLC ("DRB Capital") has filed a motion with the Circuit Courts of Broward County, Florida to amend a complaint previously filed against Jacob Joseph & Associates, LLC ("JJ&A") in order to include its principal, Kobi Ribak. Last year, DRB Capital filed suit against JJ&A for tortious interference and violation of Florida's Deceptive and Unfair Trade Practice Act. After conducting some discovery, DRB Capital is asking to amend the complaint so that Mr. Ribak is held personally liable for his involvement in JJ&A's unlawful conduct. In the suit, DRB Capital is seeking compensatory damages and will seek treble damages, attorney's fees and court costs as permitted by FDUPTA, as well as punitive damages, as appropriate.

Jim Terlizzi, CEO of DRB Capital, said: "With the increase in the number of structured settlement factoring companies, many of these firms are resorting to unethical and unfair practices in an attempt to gain a competitive advantage.  In addition, many are engaged in rampant forum shopping and are, in our opinion, committing a fraud upon the courts of Florida and other states. We will not tolerate such unlawful practices, which are detrimental both to the fair and ethical players in the industry as well as to the consumers. We intend to file additional lawsuits against other firms and their principals who engage in this kind of behavior in the coming weeks."

About DRB Capital, LLC: DRB Capital is a leading purchaser of annuity payments and payments from structured legal settlements. The company offers liquidity and optionality to prospective sellers in need of cash who receive guaranteed and/or life-contingent structured settlements or annuity payments. For further information, visit www.drbcapital.com.

CONTACT: Mark Mruz, [email protected]  

SOURCE DRB Capital, LLC