JERSEY CITY, N.J., June 15, 2018 /PRNewswire/ -- Yellowstone Capital announces that Protection Legal Group and related companies have agreed to pay Yellowstone Capital and another party $500,000 as part of a settlement agreement.
Yellowstone jointly sued Protection Legal Group and related companies last year in the New York Supreme Court for tortious interference with its contracts (Index Number: 656079-2017). In the complaint, Yellowstone alleged that the debt relief services being offered to Yellowstone's clients were a harmful scheme to generate fees for the defendants that left Yellowstone's merchants with breached contracts.
The settlement agreement, which brings that lawsuit to a close, also stipulates that certain defendants cannot solicit Yellowstone's merchants for services in the future.
"The settlement is a major victory," said Yellowstone Capital CEO Isaac Stern. "We will go after every single company that tries to hurt our business," he added. "Small businesses suffer greatly at the hands of uncouth debt relief service companies. If there are companies doing things the wrong way, we're going to go after them hard. That includes the companies that refer them business."
About Yellowstone Capital
Yellowstone Capital is headquartered in Jersey City-NJ. Since 2009, the company has originated more than $2 billion in total working capital to small businesses. For more information, visit: http://www.yellowstonecap.com/
SOURCE Yellowstone Capital